A Business Paid $5,000 to a Creditor in Payment of an Amount

question 100

Multiple Choice

A business paid $5,000 to a creditor in payment of an amount owed.The effect of the transaction on the accounting equation was to:

• A)increase one asset,decrease another asset.
• B)increase an asset,increase a liability.
• C)decrease an asset,decrease a liability.
• D)increase an asset,increase owner's equity.

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Definitions:

Heart Disease

A range of conditions affecting the heart, including coronary artery disease, heart rhythm problems, and congenital heart defects, leading to significant health problems.

Disease

A disorder or malfunctioning in any part of the body, characterized by a set of symptoms and signs, often with a known cause.

Ill

A general term to describe being in a state of poor health.

Seeking Health Care

The process of actively looking for medical services or professional assistance to maintain or improve health.