Which Pair of Accounts Follows the Rules of Debit and Credit

question 152

Multiple Choice

Which pair of accounts follows the rules of debit and credit in the same manner?

• A)Dividends Payable and Rent Expense
• B)Repair and Maintenance Expense and Bank Loan Payable
• C)Prepaid Insurance and Advertising Expense
• D)Service Revenue and Accounts Receivable

Identify and calculate the opportunity cost of various decisions.

Analyze how the marginal analysis framework applies to decision-making.

Explain how government intervention can impact economic efficiency and income distribution.

Evaluate the effects of taxation and government spending on societal welfare.

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Definitions:

Corporate Philosophy

entails the values, beliefs, and principles that guide a company's operations, shaping its culture and strategic direction.

Local Environment

The immediate surroundings or conditions in which an organization operates, including the social, cultural, and economic aspects influencing its performance.

Organisational Culture

The shared values, beliefs, and norms that influence the way employees behave within an organization.

Institutional Identity

The unique set of characteristics, values, and culture that defines an organization and distinguishes it from others.