An Adjusting Journal Entry That Includes an Increase to an Asset

question 123

Multiple Choice

An adjusting journal entry that includes an increase to an asset contra-account would also include an increase in a(n) :

• A) related asset account.
• B) liability account.
• C) revenue account.
• D) expense account.

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Definitions:

Plausible Excuses

Reasonable justifications offered to explain behavior or actions that may not initially be obvious.

Internalized Conscience

The part of an individual's psyche that is made up of internalized moral standards, guiding right and wrong conduct.

Socially Responsive

Characteristics of an individual or entity that demonstrates awareness, sensitivity, and adaptability to social contexts and needs.

Observational Learning

Gaining understanding and abilities through the observation and emulation of other individuals.