A Company Collects an Account Receivable Previously Written Off A)Option a
B)Option B
C)Option C
D)Option D

question 100

Multiple Choice

A company collects an account receivable previously written off.Indicate how this transaction would affect the following five financial statement items:
$\begin{array}{llllll}&&& \text { Stockholders' } \\&\text { Assets } &\text { Liabilities } &\underline{\text { Equity }}& \underline{\text { Revenues }} &\underline{\text { Expenses }}\\\text { a. } & \text { Increase } & \text { Decrease } & \text { Increase } & \text { Decrease } & \text { No effect } \\\text { b. } & \text { Increase } & \text { No effect } & \text { Increase } & \text { Increase } & \text { Decrease } \\\text { c. } & \text { Increase } & \text { No effect } & \text { Increase } & \text { Increase } & \text { No effect } \\\text { d. } & \text { No effect } & \text { No effect } & \text { No effect } & \text { No effect } & \text { No effect }\\\end{array}$

• A)Option a
• B)Option b
• C)Option c
• D)Option d

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Definitions:

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Friendly and Conventional

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The practice of being kind and understanding towards oneself, especially in instances of failure or mistake.

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A country in Southeast Asia known for its tropical beaches, opulent royal palaces, ancient ruins, and ornate temples displaying figures of Buddha.