A Firm Billed a Customer for Services but Did Not

question 69

Multiple Choice

A firm billed a customer for services but did not collect cash.What is the effect of this transaction?

• A)Increases assets,increases revenues
• B)Increases assets,decreases assets
• C)Decreases assets,increases expenses
• D)Decreases assets,decreases liabilities

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Definitions:

Hearing Capacity

The ability or range within which one can perceive sounds, varying greatly among individuals and species.

Dishabituation

The term used to describe the process in which an infant’s interest is renewed after a change in the stimulus.

Habituation

A psychological and physiological process whereby an individual becomes accustomed to a stimulus through repeated exposure, leading to a decrease in response.

Perceive Change

The process of recognizing or detecting alterations in one's environment or circumstances.