A Firm Received and Paid a Utilities Bill

question 114

Multiple Choice

A firm received and paid a utilities bill.How would this affect the elements of the fundamental accounting equation?

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Definitions:

Comparative Advantage

The ability of a party to produce a particular good or service at a lower marginal cost than others.

Steel

An alloy of iron and carbon, and sometimes other elements, used as a primary material in buildings, infrastructure, tools, ships, automobiles, machines, appliances, and weapons.

Automobiles

Motor vehicles designed and manufactured to transport individuals or small groups of people.

Oranges

A citrus fruit known for its juicy segments and sweet to slightly sour taste, often consumed fresh or squeezed for juice.