In Adjusting for a Prepayment, the Expense Account Needs to Be

question 11

Multiple Choice

In adjusting for a prepayment, the expense account needs to be ________ and an asset account needs to be ________.

• A)set up; credited
• B)set up; reduced
• C)credited; debited
• D)debited; credited

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Definitions:

Kohlberg

Lawrence Kohlberg was a psychologist recognized for his theory on the stages of moral development, which posits that individuals progress through different levels of moral reasoning as they age.

Moral Development

The process by which individuals learn and apply concepts of right and wrong, often influenced by cultural, societal, and personal factors.

Universal

A characteristic or principle that is applicable everywhere or in all cases; universally accepted.

Kohlberg's Model

A theory of moral development proposed by Lawrence Kohlberg, which suggests that individuals progress through different stages of moral reasoning as they age.