Which of the Following Accounts Should Be Credited in a Journal

question 37

Multiple Choice

Which of the following accounts should be credited in a journal entry?

• A) Dividends, when it has been increased
• B) Accounts Receivable, when it has been decreased
• C) Wages Expense, when it has been increased
• D) Wages Payable, when it has been decreased

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Definitions:

Business Opportunities

Prospects or situations favorable for starting a new business or expanding an existing one, often involving the sale or lease of products, services, or equipment.

Market Analysis

The evaluation of the size, trends, and growth potential of a specific market, including identification of customer needs and competitors.

Competitive Analysis

The process of identifying key competitors and evaluating their strategies, strengths, and weaknesses to determine market position and inform business strategies.

Startup Costs

Initial expenses required to establish a new business, including legal fees, marketing, equipment, and rent.