If Accounts Receivable Has Been Credited, It Is Most Likely

question 73

Multiple Choice

If Accounts Receivable has been credited, it is most likely that:

• A) the company collected a payment from a customer.
• B) the company made a payment on account.
• C) the company made a purchase on account.
• D) None of these is possible.

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Definitions:

Preoperational

A stage in Jean Piaget's theory of cognitive development where children from about 2 to 7 years old engage in symbolic play but struggle with logic and understanding the perspective of others.

Conservation

The act of preserving, protecting, or restoring the natural environment, natural ecosystems, vegetation, and wildlife to prevent depletion or destruction.

Cognitive Development

The process of growth and change in intellectual/mental abilities such as thinking, reasoning, and understanding.

Centration

In developmental psychology, the tendency of children in the preoperational stage to focus on one aspect of a situation while neglecting others.