What Would Be the Effect on Accounts If the Business

question 104

Multiple Choice

What would be the effect on accounts if the business received the telephone bill but did not pay it immediately?

• A) An expense would be debited and a liability credited.
• B) Capital would be debited and revenue credited.
• C) An expense would be debited and an asset credited.
• D) An asset would be debited and Capital credited.

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Definitions:

General Adaptation Syndrome

A model describing the body's short-term and long-term reactions to stress, consisting of three stages: alarm, resistance, and exhaustion.

Resistance

The refusal to accept or comply with something; the act of trying to prevent something by action or argument.

Freudenberger

Herbert Freudenberger, a psychologist known for his pioneering work on burnout, a state of physical, emotional, and mental exhaustion caused by long-term involvement in emotionally demanding situations.

Burnout

A state of physical, emotional, and mental exhaustion caused by prolonged stress, often resulting from excessive and sustained work or activity.