Which Statement About an Account Is True

question 100

Multiple Choice

Which statement about an account is true?

• A)In its simplest form, an account consists of two parts.
• B)An account is an individual accounting record of increases and decreases in specific asset, liability, and stockholders' equity items.
• C)There are separate account for specific assets and liabilities but only one account for stockholders' equity items.
• D)The left side of an account is the credit or decrease side.

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Definitions:

Classical Conditioning

A learning process where a neutral stimulus becomes associated with a meaningful stimulus, causing a similar response.

Serendipity

The occurrence of events by chance in a happy or beneficial way, often playing a significant role in discoveries or innovations.

Pavlov

A Russian physiologist best known for his work in classical conditioning, particularly his experiments with dogs that led to the discovery of the conditioned reflex.

Music Videos

Short films that integrate a song with imagery, intended for promotional or artistic purposes.