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

question 31

Multiple Choice

An accountant has debited an asset account for $1,000 and credited a liability account for $500. Which of the following would be an incorrect way to complete the recording of the transaction?

• A) Credit an asset account for $500.
• B) Credit another liability account for $500.
• C) Credit an equity account for $500.
• D) Debit an equity account for $500.

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Definitions:

Socialization Tactics

Strategies used by organizations to integrate new employees into the company's culture and familiarize them with organizational norms and values.

Proactive Behaviours

Actions taken by individuals to affect change within themselves or their environment, characterized by anticipatory, change-oriented, and self-initiated effort.

Socialization Tactics

The methodologies and processes used by organizations to integrate new employees into the corporate culture and work environment.

Experienced Workmates

Colleagues who have gained knowledge and skills in their field through extended periods of work.