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

question 42

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
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A customer was invoiced for services rendered.

• 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 increased and another asset decreased.

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Definitions:

Process Analysis Technique

A systematic evaluation method aimed at understanding and documenting all the aspects of a process to identify improvements.

Customer Interaction

The communication and service exchanges between a business and its customers, critical for understanding needs, resolving issues, and ensuring customer satisfaction.

Information Technology

The use of computers, storage, networking, and other physical devices and infrastructure to create, process, store, secure, and exchange all forms of electronic data.

Physical Process

A natural or engineered sequence of actions or operations that transform materials or substances, often involving changes in physical properties.