An Accountant Has Debited an Asset Account for $1,300 and Credited

question 97

Multiple Choice

An accountant has debited an asset account for $1,300 and credited a liability account for $500. Which of the following would be an incorrect way to complete the recording of the transaction?

• A) Credit an asset account for $800.
• B) Credit another liability account for $800.
• C) Credit a Stockholders' account for $800.
• D) Debit a Stockholders' account for $800.

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Definitions:

Historicity

The quality of being historical; the historical development and context of an event, idea, or entity.

Michel Foucault

A French philosopher and historian who explored the relationships between power, knowledge, and social institutions, and how they serve to control and define society.

Technological Discipline

The ways in which technology and technological systems control or shape human behavior, social relations, and societal organization.

Michel Foucault

A philosopher and social theorist from France, renowned for his examination of power dynamics, discourse, and how knowledge is socially constructed.