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

question 150

Multiple Choice

An accountant has debited an asset account for $1,000 and credited an expense account for $2,000.Which of the following would be the correct way to complete the recording of the transaction?

• A)Credit an asset account for $2,000.
• B)Credit a liability account for $1,000.
• C)Credit a shareholders' equity account for $1,000.
• D)Debit a shareholders' equity account for $1,000.

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Definitions:

Gradual Exposure

A therapeutic technique that involves slowly and systematically exposing a person to their fear or phobia to reduce anxiety gradually.

TF-CBT

Trauma-Focused Cognitive Behavioral Therapy, a structured intervention aimed at children and adolescents who have experienced trauma, helping them process and cope with traumatic memories.

Balancing Relevance

The strategy of ensuring a brand or product remains pertinent and appealing to its target audience while adapting to market changes and trends.

Consistency

The characteristic of maintaining uniformity and reliability in actions, values, methods, measures, principles, expectations, and outcomes over time.