If Services Are Performed on Credit, Then

question 1

Multiple Choice

If services are performed on credit, then

• A)assets will decrease.
• B)liabilities will increase.
• C)shareholders' equity will increase.
• D)liabilities will decrease.

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Definitions:

ABA Model Code

A set of ethical guidelines and standards developed by the American Bar Association to guide attorneys in their professional conduct.

Canons

Established principles or rules that guide the interpretation and application of legal texts, such as statutes or constitutions.

Professional Responsibility

The ethical and moral duties held by professionals towards their profession, clients, and society.

Canons

Fundamental principles or general rules that form the base of a system of laws or standards, often referring to ethical guidelines for professionals.