What Would Be the Effect on the Accounts If the Business

question 61

Multiple Choice

What would be the effect on the accounts if the business purchased equipment on account?

• A) An asset would be debited and an expense debited.
• B) Expense would be debited and Liability credited.
• C) An asset would be debited and Liability debited.
• D) An asset would be debited and a Liability credited.

---

Definitions:

Multi-Directional Flows

In the context of communication or information, it refers to the exchange of messages or data in multiple directions rather than a singular flow.

Deterritorialization

A complex concept often used in social sciences to describe the loss of the cultural, social, or geographical ties that define a place or a community.

Interrelated Flows

Processes or movements that are interconnected, influencing and interacting with each other in a system or network.

Hybridization

The process or act of combining or blending two different elements, such as cultures, technologies, or species, to produce something new or more effective.