Accord Corporation Collected $5,000 from Its Customer,who Owed It Since

question 60

Multiple Choice

Accord Corporation collected $5,000 from its customer,who owed it since the previous month.How does this affect the accounting equation of the business?

• A)assets increase by $5,000; liabilities decrease by $5,000
• B)assets increase by $5,000; assets decrease by $5,000
• C)assets increase by $5,000; liabilities increase by $5,000
• D)assets increase by $5,000; equity increases by $5,000

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The manner in which wealth is allocated among individuals in a society, often a focus of economic and social policy analysis.

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