How Will the Following Adjusting Journal Entry Affect the Accounting

question 98

Multiple Choice

How will the following adjusting journal entry affect the accounting equation?

• A)increase assets, increase revenues
• B)increase liabilities, increase revenues
• C)decrease liabilities, increase revenues
• D)decrease liabilities, decrease revenues

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Definitions:

Cognitive Processes

Mental activities involved in the acquisition, storage, retrieval, and use of knowledge.

Divided Attention

The ways a cognitive processor allocates cognitive resources to two or more tasks that are carried out simultaneously.

Modalities

Different ways or modes through which something can be done or perceived, such as the sensory modalities (sight, sound, touch, etc.).

Attention Stream

A continuous flow of perceptual information that an individual focuses on at any given moment.