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:

Systems Of Belief

Complex frameworks consisting of philosophical, ethical, or theological ideas that guide individuals or groups in their understanding of the world and their behavior within it.

Sapir-Whorf Hypothesis

A theory suggesting that the structure of a language influences its speakers' world view or cognition, often referred to as linguistic relativity.

Cultural Relativism

The principle that an individual's beliefs and activities should be understood by others in the context of that individual's own culture.

Cultural Pluralism

A societal approach that recognizes and appreciates the diversity of cultures within a community or nation while advocating for mutual respect and peaceful coexistence.