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.

---

Definitions:

BPI

This approach, known as Business Process Improvement, helps organizations refine their essential procedures to yield more efficient performance.

BPR

Business Process Reengineering, a strategic approach that organizations use to improve their workflows and efficiency significantly.

BPI

Through Business Process Improvement, organizations adopt a structured approach to advance their primary processes for better efficiency results.

BPR

Business Process Reengineering, which is the radical redesign of core business processes to achieve dramatic improvements in productivity, cycle times and quality.