Which of the Following Statements Correctly Describes the Effect of Recording

question 60

Multiple Choice

Which of the following statements correctly describes the effect of recording the collection of a $10,000 account receivable for which a 2% sales discount was recorded at the time of collection?

• A)Current assets will remain the same.
• B)Gross profit will decrease $200.
• C)Accounts receivable will decrease $9,800.
• D)Net sales will increase $9,800.

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Definitions:

Environmental Context

The surrounding conditions, including natural and built environments, that influence an entity or individual's functionality or behavior.

Reversing The Lens

A method of examining or analyzing situations from an alternative perspective, often to gain new insights or understand hidden aspects.

Followers Impact Leaders

The concept that the behavior, attitudes, and feedback from followers can influence and shape a leader's actions and decisions.

Dysfunctional Personal Characteristics

Traits or behaviors in individuals that negatively impact their performance or relationships in a workplace or social setting.