A Business Settles a Liability by Making a Payment with Cash.How

question 30

Multiple Choice

A business settles a liability by making a payment with cash.How does paying this liability affect the accounting equation?

• A)Liabilities decrease;owners' equity increases.
• B)Assets increase;liabilities increase.
• C)Assets increase;liabilities decrease.
• D)Assets decrease;liabilities decrease.

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Definitions:

Succession Management

A systematic process of identifying and preparing suitable employees through mentoring, training, and job rotation, to replace key positions within an organization in the future.

High-potential Employees

Employees identified within an organization as having the ability, aspiration, and engagement to rise to and succeed in more senior positions.

Leadership Talent

The skills and abilities possessed by individuals which enable them to lead others effectively and drive organizational success.

Competition

Refers to the rivalry between businesses or individuals in the same industry or sector to attract customers, increase market share, and achieve leadership.