When a Business Provides Services for Cash,which Elements of the Accounting

question 31

Multiple Choice

When a business provides services for cash,which elements of the accounting equation are affected?

• A)Revenue and Expense
• B)Cash and Revenue
• C)Cash and Expense
• D)Cash and Dividends

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Definitions:

Hybrid Cars

Vehicles powered by a combination of an internal combustion engine and one or more electric motors, using less fuel than conventional vehicles.

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved.

Minimum Wage

A legally established lower limit on the wage that employers can pay their workers.

Unemployment

The situation of someone of working age and willing to work being unable to find employment.