Collection of a $600 Accounts Receivable

question 33

Multiple Choice

Collection of a $600 accounts receivable

• A) increases an asset $600; decreases a liability $600.
• B) decreases a liability $600; increases shareholders' equity $600.
• C) decreases an asset $600; decreases a liability $600.
• D) has no effect on total assets.

---

Definitions:

International Economy

The interconnected system of global trade and finance that facilitates the exchange of goods, services, and capital across borders.

High Tariff Barriers

High tariff barriers are elevated taxes imposed on imported goods to protect domestic industries from foreign competition.

Higher Education

Educational programs beyond secondary school, including universities, colleges, and vocational schools, often leading to degrees or other qualifications.

Boom

A period of significant economic growth, increased productivity, and rising consumer demand.