Mulberry Corporation Collected $16,000 from One of Its Customers, the Amount

question 164

Multiple Choice

Mulberry Corporation collected $16,000 from one of its customers, the amount owed from the previous month. How does this affect the accounting equation for Mulberry?

• A) Assets increase by $16,000; liabilities decrease by $16,000.
• B) Assets increase by $16,000; assets decrease by $16,000.
• C) Assets increase by $16,000; liabilities increase by $16,000.
• D) Assets increase by $16,000; equity increases by $16,000.

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Definitions:

Environmental Factors

Environmental Factors encompass all the external conditions and influences impacting the life and development of an organism or population.

Reinforcement

In behaviorism, a process by which a behavior is strengthened or increased, either by presenting a rewarding stimulus (positive reinforcement) or removing an aversive stimulus (negative reinforcement).

Punishment

A method used to decrease the likelihood of a behavior's reoccurrence, often through unpleasant consequences.

Career Choice

The process of deciding on a path for one's professional life, which involves considering various factors like interests, skills, values, and market opportunities.