Which Type of Account Is Credited When a Company Records

question 110

Multiple Choice

Which type of account is credited when a company records a debt?

• A) expense
• B) retained earnings
• C) liability
• D) asset

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Definitions:

Product Life Cycle

The sequence of stages that a new product goes through from introduction to growth, maturity, and eventual decline in the marketplace.

Desktop Computers

Personal computers designed to be stationary and used at a desk, typically consisting of a monitor, keyboard, mouse, and tower or all-in-one unit.

Affordable Laptops

Laptops that are reasonably priced, making them accessible to a wide range of consumers, including students and budget-conscious individuals.

Family Brand

Brand name used to identify several different, but related, products.