Big Bite Diner Received a Bill of $800 from the Blackstone

question 96

Multiple Choice

Big Bite Diner received a bill of $800 from the Blackstone Wine Advertising Agency. The owner K. T. Lang is postponing payment of the bill until a later date. The effect on specific items in the basic accounting equation is

• A) a decrease in Cash and an increase in Accounts Payable.
• B) a decrease in Cash and an increase in Owner's Capital.
• C) an increase in Accounts Payable and a decrease in Owner's Capital.
• D) a decrease in Accounts Payable and an increase in Owner's Capital.

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Definitions:

Lab Coats

White coats worn by scientists and medical professionals as a protective garment and a symbol of their profession.

Expert Power

The influence or authority a person holds over others as a result of their expertise, skills, or knowledge in a particular domain.

Anticonformity

The deliberate opposition to social norms and conventions, where individuals choose to behave in ways distinctly different from or against the expected norms.

Independence

The state or condition of being free from reliance on, control by, or influence from others, often associated with self-sufficiency.