Ash Promises to Meet Johnny for a Beer, but Never

question 17

Multiple Choice

Ash promises to meet Johnny for a beer, but never shows up.Ash's conduct is:

• A)Ethical and legal.
• B)Unethical but legal.
• C)Ethical but illegal.
• D)Unethical and illegal.

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Definitions:

Decreases

A reduction in size, quantity, or level of something.

Equity Accounts

Accounts that represent the owner's or shareholders' interest in a company, reflecting the residual assets of the company after liabilities are deducted.

Debits

An entry recorded on the left side of a double-entry bookkeeping system that increases asset or expense accounts, or decreases liability, equity, or income accounts.

Credits

Credits refer to the accounting entry that either increases a liability or equity account, or decreases an asset or expense account.