Sheryl and Lynda Are Close Friends

question 91

Multiple Choice

Sheryl and Lynda are close friends. Which of the following statements MOST likely characterizes their relationship?

• A) They compete with each other and frequently disagree.
• B) When they talk, each wants practical solutions to their problems rather than sympathy.
• C) They get together frequently to enjoy outdoor activities.
• D) They often get together just to talk.

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Definitions:

Debits

Entries on the left side of an account ledger, indicating an increase in assets or expenses or a decrease in liabilities, equity, and revenue.

Credits

Accounting entries that increase liabilities or equity or that decrease assets, representing the opposite of debits.

Debits

Entries on the left side of an accounting ledger, representing increases in assets or expenses or decreases in liabilities, equity, and revenue.

Credits

Accounting entries that increase liabilities or equity or decrease assets, typically found on the right-hand side of an accounting ledger.