What Would Be the Effect on the Accounts If the Business

question 103

Multiple Choice

What would be the effect on the accounts if the business received the telephone bill but did not pay it immediately?

• A)An expense would be debited and a liability credited.
• B)Capital would be debited and Revenue credited.
• C)An expense would be debited and an asset credited.
• D)An asset would be debited and Capital credited.

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Definitions:

Systematic Observation

An organized method of collecting data where the observer adheres to a set of predefined procedures to minimize biases.

Prior Hypotheses

Preconceived theories or assumptions made before conducting an experiment or research study.

Systematic Observation

A methodical approach to data collection where researchers observe subjects in a structured manner to minimize bias.

Specific Behaviors

Refers to particular actions or reactions of individuals or groups that are observable and measurable.