If a Transaction Is Properly Analyzed and Recorded

question 83

Multiple Choice

If a transaction is properly analyzed and recorded,

• A)one asset account will be debited and one liability account will be credited.
• B)the total dollar amount debited will equal the total dollar amount credited.
• C)only two accounts will be used to record the transaction.
• D)one account balance will increase and another will decrease.

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Definitions:

Ethics

The branch of philosophy dealing with morality, moral principles, and values governing human conduct.

Ethical Virtues

Moral qualities or characteristics deemed to be good or desirable in a person.

Short-Term Costs

Expenses or costs that are incurred over a relatively brief period, typically considered to be less than one year.

Long-Term Costs

Expenses or implications that occur over an extended period, often considered when making decisions that have lasting impacts.