Boxes R' Us Paid $5,000 in Salaries and Wages for February.This

question 94

Multiple Choice

Boxes R' Us paid $5,000 in salaries and wages for February.This transaction will:

• A)increase expenses and decrease revenue.
• B)increase expenses and increase liabilities.
• C)decrease assets and increase expenses.
• D)Increase assets and expenses.

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Definitions:

Diversity Jurisdiction

Federal courts' authority to hear lawsuits involving parties from different states or countries, based on their diversity of citizenship.

Corporation

A firm that is authorized by statute to act as a legal entity separate and distinct from its owners (shareholders).

Federal Courts

Courts established by the federal government of a country, which have jurisdiction over matters outlined in the federal constitution.

Independent System

A system that operates autonomously, without dependence on external systems or factors, often used in the context of power grids or computing.