Several Transactions Are Listed

question 77

Short Answer

Several transactions are listed. Use the choices to identify the effect on the accounting equation for each transaction listed. (Choices may be used more than once.)
a.Assets and liabilities increase
b.Assets and contributed capital increase
c.Assets and retained earnings increase
d.Two asset accounts are impacted, but there is no net effect on total assets
e.Assets and liabilities decrease
f.Assets and retained earnings decrease
g.Liabilities increase and retained earnings decrease
h.Liabilities decrease and retained earnings increase
-Providing services for customers for cash

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Definitions:

Informational Influence

The effect on an individual's behavior or opinions due to the desire to be correct, often resulting from the acceptance of information from others as evidence about reality.

Injunctive Norms

Societal rules and guidelines that dictate what behaviors are perceived as approved or disapproved by a social group.

Descriptive Norm

The perception of what is commonly done or typical behavior within a specific context or group.

Injunctive Norm

Social norms that concern people's perceptions of what behaviors are approved or disapproved of by others.