Which of the Following Transactions Will Not Result in an Increase

question 79

Multiple Choice

Which of the following transactions will not result in an increase in revenues?

• A)Sale of goods on credit.
• B)Sale of services for cash.
• C)Accumulation of interest in bank account.
• D)The sale of shares of common stock to investors.

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Definitions:

Social Security Tax

Taxes collected by governments from employees and employers to fund the social security program, supporting retirees, disabled persons, and survivors.

Note Payable

A financial obligation or loan evidenced by a promissory note, specifying terms such as the repayment schedule, interest, and maturity date.

Accounts Payable

Liabilities or amounts owed by a company to its creditors for goods and services received that have not yet been paid for.

Journal Entry

A record in bookkeeping that documents every financial transaction, detailing the accounts affected and whether they are debited or credited.