Which Accounts Are Affected When the Company Provides Services to a Cash

question 113

Multiple Choice

Which accounts are affected when the company provides services to a cash customer?

• A)Assets and Capital
• B)Liabilities and revenue
• C)Assets and Revenue
• D)None of the above is correct.

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Definitions:

Cause-and-Effect Relationships

The principle that everything that happens (effect) is the result of a specific cause, used to assess the relationships between variables.

Open Systems

Systems that take inputs from the external environment, transform some of them, and send them back into the environment as outputs.

Environmental Uncertainty

Environmental uncertainty refers to the degree of unpredictability and complexity in an organization's external environment, affecting decision making and strategy.

Legal Regulations

Mandatory rules and laws that govern how individuals and organizations can operate within society.