A Business Performs Services for Its Customers

question 68

Multiple Choice

A business performs services for its customers. Payment is expected to be received next month. How does the performance of services affect the accounting equation?

• A)Liabilities increase; owners' equity decreases.
• B)Assets increase; owners' equity decreases.
• C)Assets decrease; owners' equity decreases.
• D)Assets increase; owners' equity increases.

---

Definitions:

Sorted Group

A collection of items that has been organized based on specific criteria, such as alphabetically, numerically, or by date.

Report Control

A tool or component in software applications that manages the generation, formatting, and viewing of reports.

Aligning Text

Adjusting the position of text within a document or across a webpage to ensure it is aesthetically positioned to the left, center, right, or justified according to the layout requirements.

Arrange Tab

A feature in software applications that allows users to organize and reorder visual elements or documents.