The Collection of a $2,000 Account Beyond the 2 Percent

question 138

Multiple Choice

The collection of a $2,000 account beyond the 2 percent discount period would result in a(n)

• A)increase to Cash for $1,960.
• B)decrease to Accounts Receivable for $2,000.
• C)decrease to Cash for $2,000.
• D)increase to Sales Discounts for $40.

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Definitions:

Trait-Related Words

Vocabulary associated with or describing characteristic patterns of behavior, thought, and emotion identifiable in individuals.

Tightness

The characteristic of a culture or group that maintains strict norms and a low tolerance for deviant behavior.

Collectivism

Collectivism is a cultural value that emphasizes the importance of groups and collective actions, prioritizing group goals over individual desires or needs.

Agency

The capacity of individuals to act independently and make their own free choices.