A Business Has the Following Transactions: the Business Is Started

question 143

Multiple Choice

A business has the following transactions: the business is started by receiving $20,000 from the owner. The business purchases $500 of office supplies on account. The business purchases $2,000 of furniture on account. The business renders services to various clients totaling $10,000 on account. The business pays out $2,000 for salaries expense and $3,000 for Rent Expense. Business pays $500 to supplier for the office supplies purchased earlier. The business collects $3,000 from one of its clients for services rendered earlier in the month. At the end of the month, all journal entries are posted to the ledger. The Accounts Receivable account will appear as:

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Definitions:

Latane & Darley

Refers to the social psychologists who developed the Bystander Intervention Model, explaining how the presence of others affects an individual's likelihood to help.

Recent Success

Achievements or accomplishments that have occurred in the near past, often serving as a motivator for future actions or decisions.

Helping Others

Helping others entails undertaking actions aimed at benefiting someone else, which can be driven by empathy, moral obligations, or the desire to improve someone's situation.

Sexual Arousal

The physiological and emotional experience of excitement and pleasure, typically in response to stimuli that is considered sexual in nature.