A Business Makes a Cash Payment of $12,000 to a Creditor.Which

question 6

Multiple Choice

A business makes a cash payment of $12,000 to a creditor.Which account is credited?

• A) Cash
• B) Accounts payable
• C) Service revenue
• D) Accounts receivable

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Definitions:

Uniform Securities Act

A model law designed to guide states in regulating the sale of securities to protect investors from fraud.

Register by Coordination

A process for securities registration where state and federal requirements are coordinated to streamline the process for issuers.

1933 Act Registration Statement

A document filed with the SEC that includes all material information about a company offering securities to the public.

Legislative Branch

The part of the government responsible for making laws. In the United States, it is Congress, which consists of the Senate and the House of Representatives.