A Debit Is Used to Record Which of the Following

question 90

Multiple Choice

A debit is used to record which of the following?

• A)A decrease in an asset account.
• B)A decrease in an expense account.
• C)An increase in a revenue account.
• D)An increase in a contributed capital account.
• E)An increase in the dividends account.

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Definitions:

Long-Run Average Cost Curve

A graphical representation that shows the minimum average cost at which any output level can be produced after all inputs are adjustable. It reflects economies and diseconomies of scale.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, leading to a reduced cost per unit of output.

Search Engine

A software system designed to search for information on the World Wide Web.

Long-Run Cost

Costs that a firm incurs when all factors of production and costs are variable, not fixed, in the long term.