If Houston Company Billed a Client for $10,000 of Consulting

question 7

Multiple Choice

If Houston Company billed a client for $10,000 of consulting work completed, the accounts receivable asset increases by $10,000 and:

• A) Accounts payable increases $10,000.
• B) Revenue decreases $10,000
• C) Accounts payable decreases $10,000.
• D) Cash increases $10,000.
• E) Revenue increases $10,000.

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Definitions:

Sales Data

Information regarding the quantity of goods or services sold within a specific period, often used for analysis in business strategies.

Scenario Manager

A feature found in some software applications, such as Microsoft Excel, that allows users to create and analyze different scenarios by changing a set of values.

Data Table

A structured arrangement of data organized in rows and columns for easy analysis and manipulation.

Fuel Economy

A measure of how far a vehicle can travel on a given amount of fuel, often expressed in miles per gallon or liters per 100 kilometers.