An Accountant Has Debited an Asset Account for $900 and Credited

question 32

Multiple Choice

An accountant has debited an asset account for $900 and credited a liability account for $600.What can be done to complete the recording of the transaction?

• A) Debit a stockholders' equity account for $300.
• B)Debit another asset account for $300.
• C)Credit a different asset account for $300.
• D)Nothing further must be done.

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Definitions:

Creative Thinking

The ability to think in novel and unconventional ways in order to come up with unique solutions to problems or to generate original ideas.

Dominant Response Tendency

The inclination to respond in the most familiar or likely way in any given situation, especially under stress or pressure.

Objective Power

Refers to the actual, measurable ability of an individual, group, or organization to influence or control the actions of others, regardless of perceptions.

Deindividuation

A psychological state characterized by decreased self-awareness and a diminished sense of personal responsibility, often occurring in group settings.