What Would Be the Effect on the Accounts If the Business

question 97

Multiple Choice

What would be the effect on the accounts if the business provided services to a customer on account?

• A) An asset would be debited and an expense credited.
• B) Capital would be debited and Revenue credited.
• C) An asset would be debited and Revenue credited.
• D) An asset would be debited and Capital credited.

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Definitions:

Precausal Reasoning

Precausal reasoning refers to a stage in child development where logic is not yet fully developed, leading to reasoning based on intuition or superficial connections rather than causal relationships.

Personality Problem

Issues or disorders that arise from enduring patterns of behavior and inner experiences that deviate significantly from cultural expectations.

Oral And Anal Stages

Stages in Freud's psychosexual development theory; the oral stage focuses on pleasure from oral activities, and the anal stage is centered around toilet training and control issues.

Genitals

The organs involved in the reproductive system that are external in males and internal or external in females.