If a Payment Is Received from Accounts Receivable

question 23

Multiple Choice

If a payment is received from accounts receivable:

• A) one asset increases and another asset decreases.
• B) an asset increases and a liability increases.
• C) an asset decreases and a liability decreases.
• D) shareholders' equity increases and an asset decreases.

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Definitions:

Bar Chart

A graphical representation of data using bars of varying heights or lengths to compare different categories of information.

Quantitative Axis

A graphical representation axis that displays numerical information, often used in data analysis and statistics.

Bar Charts

Visual tools composed of bars to compare quantities or values across different categories or groups.

Gridlines

The lines on a chart or map that assist in measuring distance or plotting points by forming a consistent, structured background.