An Accountant Has Debited an Asset Account for $1,000 and Credited

question 156

Multiple Choice

An accountant has debited an asset account for $1,000 and credited a liability account for $500. What can be done to complete the recording of the transaction?

• A) Nothing further must be done.
• B) Debit an equity account for $500.
• C) Debit another asset account for $500.
• D) Credit a different asset account for $500.

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Definitions:

Sexual Advances

Actions or behaviors that express a desire for sexual activity or relationship with another person.

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A physiological and psychological state of being awoken or stimulated to action or responsiveness.

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A psychological state characterized by anxiety or apprehension about being assaulted or harmed.

War Zone

An area where armed conflict, warfare, or violence is occurring or has occurred, often characterized by high risk to civilians and combatants.