An Accountant Has Debited an Asset Account for $800 and Credited

question 104

Multiple Choice

An accountant has debited an asset account for $800 and credited a liability account for $700.Which of the following would be an incorrect way to complete the recording of the transaction?

• A)Credit an asset account for $100.
• B)Credit another liability account for $100.
• C)Credit a stockholders' equity account for $100.
• D)Debit a stockholders' equity account for $100.

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Definitions:

Adolescent Development

The physical, psychological, and social changes that occur during the teenage years, transitioning individuals from childhood to adulthood.

Commitment

The state or quality of being dedicated to a cause, activity, or relationship.

Crisis

A critical or volatile situation that requires immediate attention and action to prevent or mitigate damage.

Cycle Of Failure

A repetitive pattern of efforts that fail to achieve desired outcomes, often leading to demotivation and further failure.