Legal Services Were Provided to a Credit Customer

question 89

Multiple Choice

Legal services were provided to a credit customer.How would this affect the accounting equation?

• A)Cash and Accounts Receivable increase.
• B)Accounts Payable decreased and Capital decreased.
• C)Accounts Receivable and Revenue increase.
• D)None of the above is correct.

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Definitions:

Area

In statistics, often refers to the region under the curve of a probability distribution representing the probability of a range of outcomes.

Variance

An indication of how data points diverge from their average, showing the extent of their spread.

Normally Distributed

Describes a distribution that follows a bell curve, where data is symmetrically distributed with most values clustering around a central point.

Normally Distributed

Describes a statistical distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence.