Jane Is an Accountant Operating as a Sole Proprietor

question 7

Multiple Choice

Jane is an accountant operating as a sole proprietor. On 1 February she does some work for a client who pays her $320 in cash. Which of the following represents the effect of this transaction on the accounting equation?

• A) Increase in cash at bank $320; decrease in liability accounts payable $320.
• B) Increase in cash at bank $320; increase in equity $320.
• C) Increase in cash at bank $320; increase in asset accounts receivable $320.
• D) Increase in cash at bank $320; increase in liability accounts payable $320.

Apply principles of reasoning to evaluate arguments in various contexts.

Recognize the relationship between argument form and the likelihood of a true conclusion.

Understand the role of analogy and generalization in argumentation.

Understand the basic concepts of infant perception and sensory development.