Which of the Following Accounts Is Decreased with a Credit

question 71

Multiple Choice

Which of the following accounts is decreased with a credit?

• A) Advertising Fees Earned
• B) Insurance Expense
• C) Common Stock
• D) Unearned Revenue

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Definitions:

Adjustment

A modification made to accounts, financial statements, or records to ensure their accuracy and compliance with financial reporting standards.

Put Option

A contractual financial agreement that allows the owner the option, but not the requirement, to dispose of a predetermined quantity of a particular asset for a fixed price during a defined period.

Specific Price

A precise valuation or cost assigned to a good, service, or asset in a specific transaction or scenario.

Specific Stock

Refers to the individual securities or shares issued by a company, representing ownership in that company.