What Would Be the Effect on the Accounts If the Business

question 116

Multiple Choice

What would be the effect on the accounts if the business received the telephone bill but did not pay it immediately?

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

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Definitions:

Schizophrenia

A chronic and severe mental disorder that affects a person's thinking, feeling, and behavior, often characterized by delusions, hallucinations, and disordered thought.

Psychologists

Professionals who study mental processes and behavior in humans and animals.

Psychiatrist

A medical doctor specializing in the diagnosis, prevention, study, and treatment of mental disorders.

MMPI

The Minnesota Multiphasic Personality Inventory, a standardized psychometric test of adult personality and psychopathology.