For the Following Transaction,identify the Type of Change That Would

question 63

Multiple Choice

For the following transaction,identify the type of change that would have occurred in the accounting equation: Assets = Liabilities + Issued Capital + Opening retained profits + Revenue - Expenses - Dividends
-
A payment was made to a creditor.

• A) A liability increased and another liability decreased.
• B) An asset decreased and a liability decreased.
• C) An asset increased and revenue increased.
• D) An asset decreased and an expense increased.

---

Definitions:

Normally Distributed Curve

A graphical representation of a distribution of data in which most values cluster around a central peak and taper off symmetrically towards either end, resembling a bell shape.

Standard Deviation

Standard deviation is a statistical measure that quantifies the amount of variation or dispersion of a set of data values from the mean.

Stanine

A method of scaling test scores on a nine-point standard scale, where a higher stanine score indicates better performance.

Cognitive Ability Test (CogAT)

A standardized test designed to measure students' reasoning abilities in the areas of verbal, quantitative, and non-verbal (or spatial) reasoning.