On December 1, the Accounts Receivable Account Had a $5,000

question 70

Multiple Choice

On December 1, the Accounts Receivable account had a $5,000 balance. The business received
$400 during the month from its charge-account customer. After posting this transaction, the new balance in the Accounts Receivable account is:

• A)a $4,600 credit balance.
• B)a $4,600 debit balance
• C)a $5,400 debit balance.
• D)a $5,400 credit balance

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Definitions:

Basic Fairness

The principle that ensures equitable treatment, justice, and non-discrimination in the processes and practices of individuals and institutions.

Rational Related

Pertains to decisions, actions, or policies that have a logical connection or relevance to the objectives or outcomes they are intended to achieve.

State Regulation

involves statutory and administrative rules established by individual states to govern activities within their borders.

Legitimate State End

A concept in political philosophy and law referring to the justified objectives or goals pursued by a government.