An Accountant Has Debited an Asset Account for $800 and Credited

question 104

Multiple Choice

An accountant has debited an asset account for $800 and credited a liability account for $700.Which of the following would be an incorrect way to complete the recording of the transaction?

• A)Credit an asset account for $100.
• B)Credit another liability account for $100.
• C)Credit a stockholders' equity account for $100.
• D)Debit a stockholders' equity account for $100.

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Definitions:

Psychotherapy

A form of therapy focused on behavioral, psychological, or emotional issues, where treatment involves talking with a mental health professional.

Tic Disorder

A condition characterized by involuntary, rapid, sudden movements or vocalizations that occur repeatedly.

Uncontrollable Sounds

Involuntary noises, such as those produced in conditions like Tourette syndrome, that an individual cannot suppress.

ADHD

Attention Deficit Hyperactivity Disorder, a neurodevelopmental disorder characterized by inattention, hyperactivity, and impulsivity.