A Liability Would Be Credited and an Expense Debited If

question 130

Multiple Choice

A liability would be credited and an expense debited if

• A) the business paid a creditor.
• B) the business incurred an expense and did not pay the expense immediately.
• C) the business bought supplies on account.
• D) the business bought supplies for cash.

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Definitions:

Population Growth Models

Mathematical formulations that describe how populations change in size and composition over time, factoring in births, deaths, immigrations, and emigrations.

Extinction Rate

The rate at which species become extinct over a certain period of time, an important measure in the study of biodiversity and conservation biology.

Biogeographic Province

A region defined by its climatic and geographical features, harboring a distinct set of flora and fauna.

Neotropical Region

A biogeographic region that includes South and Central America, the Mexican lowlands, the Caribbean islands, and southernmost parts of Florida, characterized by its distinct fauna and flora.