Delta Company Experienced an Accounting Event That Affected Its Financial

question 70

Multiple Choice

Delta Company experienced an accounting event that affected its financial statements as indicated below:
$$\begin{array} { | c | c | c | c | c | c | c | c | c | c | c | } \hline \text { Asset } & = & \text { Lizb. } & + & \text { Equity } & \text { Rev. } & - & \text { Exp. } & = & \text { Net Inc. } & \begin{array} { c } \text { Strnt d } \\\text { Cash Flows }\end{array} \\\hline - & = & \text { NA } & + & - & \text { NA } & - & + & = & - & - \text { OA } \\\hline\end{array}$$
Which of the following accounting events could have caused these effects on the elements of Delta's statements?

• A) Paid a cash dividend
• B) Incurred a cash expense
• C) Borrowed money from a bank
• D) Earned cash revenue

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Definitions:

Public Instruction

Educational or instructional activities provided or regulated by government entities or institutions, typically accessible to the general public.

Conservation Tasks

Cognitive exercises used in developmental psychology to assess a child's ability to understand that certain properties of objects, like volume or number, remain unchanged despite changes in the objects’ form or appearance.

Cognitive Development

involves the changes and growth in how we understand the world, think, learn, and reason over time, from childhood through adulthood.

Piaget's Stages

A theory that describes the cognitive development of children in four stages: Sensorimotor, Preoperational, Concrete Operational, and Formal Operational.