Customers Paid $8,000 on Their Accounts

question 67

Multiple Choice

Customers paid $8,000 on their accounts. Which accounts are affected by this transaction?

• A) Revenue and Retained Earnings increase $8,000.
• B) Cash and Revenue increase $8,000. Liabilities and Expense increase $8,000.
• C) Cash increases $8,000 and Accounts Receivable decreases $8,000. Revenue and Retained Earnings are unchanged.
• D) Cash and Retained Earnings increase $8,000.

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Definitions:

Personality Type

A categorization of individuals based on their characteristic patterns of thoughts, feelings, and behaviors.

Positive Statements

Assertions or propositions that are based on objective facts and can be tested or verified, rather than on opinions or values.

Prejudice

A preconceived, usually unfavorable, judgment or opinion of others without direct experience or knowledge.

Factorial Design

An experimental setup where two or more factors are tested simultaneously to determine their effects and possible interactions on a dependent variable.