What Would Be the Effect on Accounts If the Business

question 40

Multiple Choice

What would be the effect on accounts if the business provided services to a customer collecting cash?

• A) An asset would be debited and an expense credited.
• B) Capital would be debited and revenue credited.
• C) An asset would be debited and revenue credited.
• D) An asset would be debited and Capital credited.

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Definitions:

Football Stadium

A facility specifically designed for hosting football (soccer or American football) games and associated events.

Economy Resources

The key inputs or assets utilized in the production of goods and services, typically categorized as land, labor, capital, and entrepreneurship.

Bananas

A tropical fruit that is elongated and curves, with soft flesh rich in starch covered by a rind, which may be green, yellow, red, purple, or brown when ripe.

Baseballs

Spherical balls used in the game of baseball, made of rubber or cork center wrapped in yarn and covered in leather.