How Would the Accounting Equation of Lenore Turner's Consulting Business

question 207

Multiple Choice

How would the accounting equation of Lenore Turner's consulting business be affectedby the billing of a client for $2,000 for consulting work completed?

• A)Accounts receivable, $2,000 increase, liabilities, $2,000 decrease.
• B)Accounts receivable, $2,000 increase, cash, $2,000 decrease.
• C)Accounts receivable, $2,000 increase, cash, $2,000 increase.
• D)Accounts receivable, $2,000 increase, equity, $2,000 increase.
• E)Accounts receivable, $2,000 increase, liabilities, $2,000 increase.

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Definitions:

Family of Origin

relates to the family unit in which one was born or brought up, often influencing one's behavior and attitudes.

Overlook Differences

To ignore or disregard variations or disparities among individuals or situations, often to maintain harmony or focus on similarities.

Protect

refers to actions taken to ensure the safety or integrity of something or someone, preventing harm or damage.

Correcting Misinformation

The process of rectifying incorrect information, beliefs or facts.