The Classification and Normal Balance of the Accounts Payable Account

question 140

Multiple Choice

The classification and normal balance of the accounts payable account are

• A) asset, credit balance
• B) liability, credit balance
• C) owner's equity, credit balance
• D) revenue, credit balance

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Definitions:

Professional Hockey Team

A group of hockey players who compete in organized leagues and are paid for their skills and performance in the sport, often representing cities or regions.

Fishbein Model

A model in consumer behavior used to predict and understand behavior through attitudes, including beliefs about the attributes of a product and evaluations of these attributes.

Foot-in-the-Door Technique

A persuasive strategy where a small request is made first, with the aim of making the person more likely to agree to a larger request later.

Door-in-the-Face Technique

A persuasion strategy where an initial, large request is made knowing it will be refused, followed by a smaller request, which is actually the desired outcome, making the second request seem more reasonable.