ABC Company Sold $34,000 Worth of Merchandise for Cash

question 57

Multiple Choice

ABC Company sold $34,000 worth of merchandise for cash. Explain the effect on the expanded accounting equation.

• A) Total assets and total liabilities will increase.
• B) Total assets and total revenue will increase.
• C) Total liabilities will increase and total revenue will decrease.
• D) Total assets will decrease and total liabilities will increase.

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Definitions:

Training Costs

The total expenses incurred in the design, development, delivery, and evaluation of training programs.

Training Design

The planned, systematic layout and structure of a training program, including objectives, delivery methods, materials, and assessment tools.

Modality Principle

A guideline in multimedia learning that suggests people learn better from words and pictures when the words are spoken rather than presented in text form.

Audio Technology

The use and application of equipment and software for recording, reproducing, and manipulating sound.