Nick's Landscaping Services Incurred $500 as a Repair Expense and Promised

question 174

Multiple Choice

Nick's Landscaping Services incurred $500 as a repair expense and promised to pay the repair company within 30 days.Which of the following accounts will increase as a result of this transaction?

• A) Accounts Receivable
• B) Cash
• C) Accounts Payable
• D) Nick, Capital

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Definitions:

Osmoles

Osmoles measure the amount of solute that contributes to the osmotic pressure of a solution, reflecting the concentration of particles that can move freely across a semipermeable membrane.

Solution

A homogeneous mixture composed of two or more substances, where one substance (the solute) is dissolved in another (the solvent).

Electrolytes

Minerals in the body that have an electric charge, crucial for hydrating the body, regulating nerve and muscle function, balancing blood acidity and pressure.

Ions

Atoms or molecules with a net electric charge due to the loss or gain of one or more electrons.