A Company's First Event in the Year Commencing 1 July

question 17

Multiple Choice

A company's first event in the year commencing 1 July 2012 was to pay $250 cash for stationery purchased in June 2012; this was recognised as an expense in that month.Which of the following changes took place as a consequence of this event?

• A) Assets increased by $250.
• B) Liabilities decreased by $250.
• C) Expenses increased by $250.
• D) None of the above changes occurred.

---

Definitions:

Humor

Humor is identified as the quality of being amusing or funny, often characterized by expressions, gestures, or the articulation of ideas that are perceived as entertaining.

Ethnomethodologists

Sociologists who study how people use everyday conversation and gestures to construct a shared social order.

Conversational Analyses

A methodological approach in social sciences that studies the structure and patterns of conversation.

Nonvocal Activities

Behavioral actions that do not involve speech, such as gestures, facial expressions, and body language, which communicate social information.