Which of the Following Is Correct

question 26

Multiple Choice

Which of the following is correct?

• A) X is a sufficient cause of Y if Y always happens when X is present
• B) Y is a necessary cause of X if Y always happens when X does
• C) X is a necessary cause of Y only if Y happens before X
• D) Y is a sufficient cause of X only if X happens before Y

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Definitions:

Journal Entry

A record in the accounting journal that details all the financial transactions of a business and their impact on its accounts.

Debit Portion

Part of a financial transaction that represents an increase in assets or expenses or a decrease in liabilities or equity, according to double-entry accounting principles.

Credit Portion

The part of a journal entry that records the increase in liabilities or equity or the decrease in assets.

Trial Balance

A financial report that lists the balances of all ledgers accounts on a specified date, used to verify that the total debits equal total credits in the accounting system.