Making a Payment on Account of a Liability Would

question 151

Multiple Choice

Making a payment on account of a liability would:

• A)decrease assets and increase liabilities.
• B)increase liabilities and decrease owner's equity.
• C)decrease assets and decrease liabilities.
• D)decrease assets and increase net income.

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Definitions:

Type A Personalities

Individuals characterized by competitiveness, urgency, aggressiveness, and an intense drive for achievement.

Type B Personalities

Personality type characterized by a relaxed, patient, and easy-going manner, in contrast to the more stressed and aggressive Type A personalities.

Aggressive

Characterized by or displaying forceful actions or attitudes, often with the intention to dominate or succeed at the expense of others.

Occupational Safety

The discipline focused on ensuring the health and safety of employees by minimizing work-related risks, accidents, and illnesses.