In Which of the Following Types of Accounts Are Increases

question 40

Multiple Choice

In which of the following types of accounts are increases recorded by credits?

• A) revenues, liabilities
• B) dividends, assets
• C) liabilities, dividends
• D) expenses, liabilities

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Definitions:

Single-Family Farm

A farm operated and maintained by a single family, usually for the purposes of sustenance or income.

RPM Agreement

A Resale Price Maintenance agreement, where manufacturers or wholesalers set the minimum prices at which retailers can sell their products.

Per Se Rule

Legal doctrine stating that an action or condition is inherently illegal or violates a law in itself, without the need for additional proof.

Rule-Of-Reason Standard

A legal principle used in antitrust law to determine if a business practice is anticompetitive, weighing its pro-competitive benefits against its anti-competitive effects.