Which Pair of Accounts Follows the Rules of Debit and Credit

question 15

Multiple Choice

Which pair of accounts follows the rules of debit and credit in the opposite manner?

• A)Prepaid Insurance and Dividends
• B)Advertising Expense and Land
• C)Dividends and Service Revenue
• D)Interest Payable and Common Stock

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Definitions:

Physical Service

The delivery of legal documents in person to a party or representative involved in a legal proceeding, ensuring they are officially notified.

Employer

An individual or entity that hires and pays for the services of employees under a contract of employment.

Specific Performance

An order of the court requiring a breaching party to fulfill the terms of the contract.

Anticipatory Repudiation

Occurs when one party to a contract indicates in advance that they will not fulfill their contractual obligations.