Which of the Following Asset Accounts Is Increased When a Receivable

question 68

Multiple Choice

Which of the following asset accounts is increased when a receivable is collected?

• A) Accounts Receivable
• B) Supplies
• C) Accounts Payable
• D) Cash

Understand the legal requirements for a valid will.

Identify the practical first steps in estate planning.

Describe the characteristics and purposes of various types of trusts, including Testamentary trusts and Credit-Shelter trusts.

Recognize the non-legally binding nature of a letter of last instruction and its potential contents.

---

Definitions:

Receptive

Open and willing to consider or accept new suggestions or ideas.

Negatively

In a harmful, unfavorable, or pessimistic manner that detracts from the positive.

Emotional

Relating to feelings, moods, and emotional states, and the impact they have on behavior and thought processes.

Controversial

Marked by or capable of causing debate or disagreement among people.