Collection of a $500 Accounts Receivable

question 24

Multiple Choice

Collection of a $500 accounts receivable

• A) increases an asset $500; decreases an asset $500.
• B) increases an asset $500; decreases a liability $500.
• C) decreases a liability $500; increases equity $500.
• D) decreases an asset $500; decreases a liability $500.

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Definitions:

Taste Thresholds

The minimum amount of a substance required for its taste to be recognized.

Inner Ear

The innermost part of the ear, containing the cochlea, semicircular canals, and vestibular sacs.

Vestibular Sense

Involves the perception of balance and spatial orientation, facilitated by the inner ear.

Audition

The sense of hearing; the act or capability of perceiving sound.