A Debit Is Used to Record an Increase in All

question 196

Multiple Choice

A debit is used to record an increase in all of the following accounts except:

• A)Supplies
• B)Cash
• C)Accounts Payable
• D)Dividends
• E)Prepaid Insurance

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Definitions:

Colonization

The process by which a country establishes control over a foreign territory, subjecting it to its rule and often settling it with its own populace, impacting the indigenous culture and society.

Land Ownership

The legal or rightful ownership of land, involving the rights to use, control, and transfer land as property.

John Winthrop

An English Puritan lawyer and one of the leading figures in founding the Massachusetts Bay Colony, the second major settlement in New England following Plymouth Colony.

City Upon a Hill

A metaphor from a sermon by Puritan leader John Winthrop, this term highlights the belief that the American colonies had a special mission to serve as a beacon of purity and morality.