Tina, a 3-Year-Old, Is Shown a Cheerios Box and Then

question 93

Multiple Choice

Tina, a 3-year-old, is shown a Cheerios box and then shown that it contains marbles. If asked what her friend Mark will think on seeing the box for the first time, Tina will most probably say that Marc will think it contains:

• A)Cheerios.
• B)marbles.
• C)raisin bran.
• D)beads.

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Definitions:

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.

Double-Entry Accounting

A system of bookkeeping where every entry to an account requires a corresponding and opposite entry to a different account.

Debits

Accounting entries that represent an increase in assets or expenses or a decrease in liabilities, equity, or revenue.

Credits

Recognition or acknowledgment for something received or accomplished, often used in finance to denote money received or a decrease in liabilities.