At the End of the Current Accounting Period,Ringgold Co

question 2

Multiple Choice

At the end of the current accounting period,Ringgold Co.recorded depreciation of $15,000 on its equipment.The effect of this entry on the company's balance sheet is to:

• A)decrease assets and increase liabilities.
• B)decrease owners' equity and decrease assets.
• C)decrease assets and increase owners' equity.
• D)decrease owners' equity and increase liabilities.

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Definitions:

Automatic Unconscious Thinking

Mental processes that occur without conscious awareness or effort, often guiding behaviors and decisions with minimal awareness.

Concrete Operations

A stage in cognitive development where children gain the ability to think logically about concrete events and understand the concepts of conservation and reversibility.

Physically Mature

The state at which an individual has reached full biological growth and development.

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature.