An Accountant Has Debited an Asset Account for $1,000 and Credited

question 154

Multiple Choice

An accountant has debited an asset account for $1,000 and credited a liability account for $500.What can be done to complete the recording of the transaction?

• A)Nothing further must be done.
• B)Debit a stockholders' equity account for $500.
• C)Debit another asset account for $500.
• D)Credit a different asset account for $500.

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Definitions:

Positive Involvement

A concept referring to active and constructive participation in activities or initiatives, which promotes overall well-being and success.

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A pattern characterized by high levels of competitiveness, self-driven ambition, impatience, and a sense of urgency, often linked to stress and health issues.

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