Whitney Chemicals Company Received Cash Contribution of $40,000 from the Owner

question 55

Multiple Choice

Whitney Chemicals Company received cash contribution of $40,000 from the owner of the business.Which of the following accounts will be credited?

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

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Definitions:

Upward Social Comparison

The process of comparing oneself with others who are perceived to be in a better situation, which can impact self-esteem and motivation.

Reflected Appraisal

A concept in social psychology suggesting an individual's self-image is influenced by how others perceive and interact with them.

Solo Status

A situation or condition where a person is the only member of a certain demographic (such as race, gender, or age group) within a specific setting, leading to an increased visibility and pressure on that individual.

Training

The process of teaching or learning a particular skill or behavior through practice and instruction.