Which of the Following Does Not Correctly Describe the Following $\quad$

question 5

Multiple Choice

Which of the following does not correctly describe the following journal entry? Rent expense
$\quad$$\quad$ Prepaid rent

• A)Total assets decrease.
• B)Retained earnings are not affected.
• C)Stockholders' equity decreases.
• D)Net income decreases.

---

Definitions:

1824

The year notable for the United States presidential election where no candidate received a majority in the Electoral College, leading the House of Representatives to choose the president in a contingent election.

Slave Trade

The historical trade involving the forcible transport and sale of human beings as slaves, particularly prevalent across the Atlantic Ocean from the 16th to the 19th centuries.

Jeffersonian America

A period in U.S. history characterized by Thomas Jefferson's presidency and ideals, focusing on agrarian democracy, limited government, and states' rights.