An Accountant Has Debited an Asset Account for $1300 and Credited

question 15

Multiple Choice

An accountant has debited an asset account for $1300 and credited a liability account for $600. Which of the following would be an incorrect way to complete the recording of the transaction?

• A) Credit an asset account for $700.
• B) Credit another liability account for $700.
• C) Credit an owner's equity account for $700.
• D) Debit an owner's equity account for $700.

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Definitions:

Unique Ideas

Concepts, perspectives, or solutions that are original and distinct from previously known ideas.

Naturalistic

Pertaining to observing and studying behavior in its natural environment without intervention or manipulation.

Multiple Intelligences

A theory proposed by Howard Gardner suggesting that intelligence is not a single, fixed attribute but rather a variety of distinct types of intelligences.

Howard Gardner

Renowned for his theory of multiple intelligences, which proposes that people have various kinds of intelligences, including linguistic, logical-mathematical, and spatial.