An Asset Would Be Debited and a Liability Credited If

question 133

Multiple Choice

An asset would be debited and a liability credited if

• A) the business bought supplies for cash.
• B) the business incurred an expense and paid it.
• C) the business incurred an expense and did not pay for the expense immediately.
• D) the business bought equipment on account.

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Definitions:

Manipulative Skills

Manipulative skills are physical actions that involve controlling objects with precision, using fine motor movements such as grasping, moving, or assembling.

Ages

Various stages of life characterized by different levels of maturity, growth, and development, often legally defined for specific rights and responsibilities.

Adults

Individuals who have reached the age of maturity, typically marked by the assumption of responsibilities and independence.

Sensation

The process by which sensory receptors and the nervous system receive and represent stimulus energies from the environment.