An Accountant Has Debited an Asset Account for $1,000 and Credited

question 26

Multiple Choice

An accountant has debited an asset account for $1,000 and credited a liability account for $500. Which of the following would be an incorrect way to complete the recording of the transaction?

• A) Credit an asset account for $500.
• B) Credit another liability account for $500.
• C) Credit an owner's equity account for $500.
• D) Debit an owner's equity account for $500.

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Definitions:

P(x < a)

This denotes the probability that the random variable X takes on a value less than a specific value a.

P(x = a)

The probability of a random variable x taking on a specific value a.

P(x = a)

The probability that the random variable X is equal to some value a.

Continuous Random Variable

A type of random variable that can take an infinite number of possible values in a continuum or interval on the number line.