At January 31, 2020, the Balance in Bigelow Inc

question 180

Multiple Choice

At January 31, 2020, the balance in Bigelow Inc.'s accounts payable account was $780. During February, Bigelow purchased supplies on credit of $900 and paid creditors $1,150. At the end of February, the balance in the accounts payable account should be

• A) $530 credit.
• B) $1,030 credit.
• C) $530 debit.
• D) $830 debit.

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Definitions:

Illusory Correlation

The belief in a connection between two factors where none actually exists.

Decline Effect

The phenomenon where the strength of a scientific finding or the size of observed effects tends to decrease over time with subsequent studies or experiments.

Physical Height

The measurement of how tall an individual or structure is, typically measured from the base to the top.

Correlation

An indicator quantifying the degree to which multiple variables co-vary.