An Accountant Has Debited an Asset Account for $5,000 and Credited

question 44

Multiple Choice

An accountant has debited an asset account for $5,000 and credited a revenue account for $10,000. What can be done to complete the recording of the transaction?

• A) Nothing further can be done.
• B) Credit a shareholders' equity account for $5,000.
• C) Debit another asset account for $5,000.
• D) Credit another asset account for $5,000.

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Definitions:

Cognitive Therapy

A form of psychotherapy that emphasizes the role of thought patterns and beliefs in influencing behavior and emotions, aiming to help individuals change negative thought patterns.

Thinking Errors

Cognitive distortions or irrational thought patterns that negatively affect one's perception and interpretation of events.

Cognitive Therapy

A form of psychotherapy that focuses on changing negative patterns of thought in order to alter behavior and emotions.

Client-centered Therapy

A humanistic approach to psychotherapy that emphasizes the importance of an empathetic counselor-client relationship, promoting self-discovery and personal growth.