Vic's Mart Collects $200 of Its Accounts Receivable

question 70

Multiple Choice

Vic's Mart collects $200 of its accounts receivable.The expanded accounting equation impact is:

• A)Cash and Capital increase $200.
• B)Cash and Revenue increase $200.
• C)Cash increases and Accounts Receivable decreases $200.
• D)Accounts Receivable decreases and Capital increases $200.

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Definitions:

National Saving

The total amount of savings generated within a country, which is the sum of private savings by households and businesses plus public savings from the government’s budget.

Tax Revenue

Tax revenue is the income gained by governments through taxation, a primary source of income used to fund public services and obligations.

National Saving

The total amount of savings generated within a country, consisting of both private savings by households and public savings by the government.

Trillion

A numerical value represented as 1,000,000,000,000, or 10^12, often used in the context of discussing national budgets or macroeconomic figures.