Diamond Company Had the Following Transactions During June: Performed Services

question 97

Multiple Choice

Diamond Company had the following transactions during June: Performed services for $3,000 on account; received cash on account,$8,000; paid $900 for repair expense; paid $1,600 to a supplier that it owed from the previous month.What is the combined effect on Cash of these June transactions?

• A) $5,500 increase
• B) $5,500 decrease
• C) $8,000 increase
• D) $2,500 decrease

Recognize the impact of digitization on information storage and transmission.

Understand the concept and purpose of digital rights management.

Distinguish between copyrightable materials and non-copyrightable facts.

Identify and differentiate among the types of currencies, placing emphasis on cryptocurrencies.

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Definitions:

Neural Activity

The electrical and chemical processes within neurons that allow the brain and nervous system to function.

Neurons

Specialized cells transmitting nerve impulses; the basic building blocks of the nervous system.

Nondeclarative Memory

A type of long-term memory that stores skills, habits, and learned responses that can be expressed without conscious thought.

Long-term Memory

The phase of the memory system that is capable of storing information for long periods, sometimes throughout life.