Alpha Sold $2,000 of Services to Beta on Credit

question 41

Multiple Choice

Alpha sold $2,000 of services to Beta on credit.Beta promised to pay for it next month.Beta will report a $2,000:

• A) Account Payable.
• B) Accounts Receivable.
• C) Decrease in Cash, since it plans to pay for sure next month.
• D) Net income.

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Definitions:

Libertarian

A political ideology favoring minimal state intervention in the personal and economic affairs of individuals, emphasizing freedom and voluntary association.

Egalitarian

Based on the principle that all people are equal and deserve equal rights and opportunities.

Equal Share

A division of assets, resources, or responsibilities among parties where each receives an identical portion or amount.

Distributive Justice

The ethical principle concerned with the fair allocation of resources among members of a community.