What Would Be the Effect on the Accounts If the Business

question 103

Multiple Choice

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

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

---

Definitions:

Declarative Memories

Facts and incidents that can be intentionally remembered and brought to mind.

Eyewitness Testimony

Evidence provided in court by someone who witnessed a crime or significant event, which can heavily influence jury decisions despite potential issues with reliability.

Short-Term Memory

Short-term memory is a cognitive system that temporarily holds a limited amount of information in an accessible state for cognitive tasks.

Encoding Specificity

The principle that recall is more effective when the context at the time of encoding matches the context at the time of retrieval.