An Accountant Has Debited an Asset Account for $1,300 and Credited

question 93

Multiple Choice

An accountant has debited an asset account for $1,300 and credited a liability account for $500.Which of the following would be an incorrect way to complete the recording of the transaction?

• A)Credit an asset account for $800.
• B)Credit another liability account for $800.
• C)Credit a Stockholders' account for $800.
• D)Debit a Stockholders' account for $800.

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Definitions:

Macro Level

An analytical perspective focusing on large-scale social processes, such as social structures and institutions, and how they affect individual behaviors and societal changes.

Objectives

Goals or aims that are intended to be achieved through particular actions or activities, often serving as guiding principles for strategic planning.

Goals

Goals are desired results or outcomes that individuals or groups aim to achieve through their actions or efforts.

Postmodernism

represents a movement or set of attitudes challenging modernist certainties, advocating for a skeptical, subjective approach to culture, literature, art, and philosophy.