An Account for Advertising Was Received

question 28

Multiple Choice

An account for advertising was received.There was no previous record of the charge.

• A) an asset increased and another asset decreased
• B) an asset decreased and an expense increased
• C) an asset decreased and a liability decreased
• D) a liability increased and an expense increased

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Definitions:

Nullity

A legal status indicating that something is void and without legal effect from its inception.

Private Causes of Action

Legal rights allowing individuals to sue for a redress or prevention of wrongs, without government intervention.

Environmental Damage

refers to harm or adverse effects caused to the natural environment due to human activities or natural disasters, impacting ecosystems, biodiversity, and human health.

Criminal Penalties

Sanctions imposed by a court upon individuals or entities found guilty of violating criminal laws, including fines, community service, probation, and imprisonment.