The Accounting Equation for Long Company Shows an Increase in Its

question 101

Multiple Choice

The accounting equation for Long Company shows an increase in its assets and an increase in its liabilities. Which of the following transactions could have caused that effect?

• A) Supplies were purchased for cash.
• B) Cash was received from providing services to a customer.
• C) Cash was received as an owner investment.
• D) Equipment was purchased on credit.
• E) Advertising expense for the month was paid in cash.

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Definitions:

Systematic Desensitization

A therapy technique used to overcome phobias and anxiety disorders by gradually exposing the patient to the feared object or context without any danger, in order to overcome their anxiety.

Deep Relaxation

A state of physical and mental calm, often achieved through techniques such as meditation, controlled breathing, or progressive muscle relaxation.

Aversive Conditioning

A behavioral modification technique involving the use of unpleasant stimuli to reduce or eliminate undesirable behaviors.

Nausea-Inducing Drug

A medication or substance that causes a strong urge to vomit.