What Would Be the Effect on Accounts If the Business

question 104

Multiple Choice

What would be the effect on accounts if the business received the telephone bill but did not pay it immediately?

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

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Definitions:

Schizophrenia

Schizophrenia is a severe mental disorder characterized by distortions in thinking, perception, emotions, language, sense of self, and behavior.

Reasoning

The process of forming conclusions, judgments, or inferences from facts or premises.

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The part of the brain located at the front of each cerebral hemisphere, responsible for decision-making, problem-solving, control of purposeful behaviors, consciousness, and emotions.

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Proteins located on the surface of certain cells in the brain that bind dopamine and are involved in transmitting the dopamine signal.