Figure 9-2 -Consider Figure 9 -2.Services Can Be Classified by Their Method

question 183

Multiple Choice

Figure 9-2
-Consider Figure 9 -2.Services can be classified by their method of delivery.Box A represents

• A) government-delivered services.
• B) people-delivered services.
• C) fee-delivered services.
• D) equipment-delivered services.
• E) nonprofit-delivered services.

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Definitions:

Credits

Accounting entries that increase liabilities or equity or decrease assets or expenses.

Journal Entries

The recording of financial transactions into a company's accounting records, documenting the details of financial transactions that affect the financial statements.

Debit Accounts

Accounts that are increased with a debit entry, indicating either an increase in assets or expenses or a decrease in liabilities, equity, or revenue.

Credit Accounts

Accounts that are increased by credits and decreased by debits, reflecting liabilities and shareholder equity.