Collection of a $600 Accounts Receivable

question 53

Multiple Choice

Collection of a $600 accounts receivable

• A) has no effect on total assets.
• B) decreases a liability $600; increases shareholders' equity $600.
• C) increases an asset $600; decreases a liability $600.
• D) decreases an asset $600; decreases a liability $600.

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Definitions:

Socio-Emotional

Pertaining to the interplay between social interactions and emotional responses, affecting an individual's development and well-being.

Moral

Pertaining to principles of right and wrong behavior, and the goodness or badness of human character.

Piaget's Theory

A comprehensive theory about the nature and development of human intelligence proposed by Jean Piaget.

Cognitive Ability

The capacity to perform various mental activities related to learning, thinking, reasoning, and problem-solving.