A Bookkeeper Has Debited an Asset Account for $3,500 and Credited

question 222

Multiple Choice

A bookkeeper has debited an asset account for $3,500 and credited a liability account for $2,000. Which of the following would be an incorrect way to complete the recording of this transaction:

• A) Credit another liability account for $1,500.
• B) Credit another asset account for $1,500.
• C) Credit the owner's capital account for $1,500.
• D) Credit a revenue account for $1,500.
• E) Debit another asset account for $1,500.

---

Definitions:

Random Assignment

A method used in research to distribute participants randomly across various experimental groups to ensure each group is similar at the start of the experiment.

Ethical Reasons

Ethical reasons pertain to the moral principles that govern a person's behavior or the conducting of an activity, serving as a basis for determining what actions are right or wrong.

Treatment

Medical care given to a patient for an illness or condition, including medication, therapy, or surgery.

Heredity

The passing of traits from parents to offspring through genes, which are the units of hereditary information.