How Will the Following Adjusting Journal Entry Affect the Accounting

question 67

Multiple Choice

How will the following adjusting journal entry affect the accounting equation?

• A)increase assets,increase revenues
• B)increase liabilities,increase revenues
• C)decrease liabilities,increase revenues
• D)decrease liabilities,decrease revenues

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Definitions:

Titchener

Edward Titchener was a psychologist who is best known for developing the school of thought known as structuralism, focusing on the components of the human mind.

Psychological Laboratory

A controlled environment designed for conducting research, experiments, and studies in psychology.

Wilhelm Wundt

Considered the father of experimental psychology, he established the first psychology laboratory at the University of Leipzig in 1879.

Sigmund Freud

Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychotherapist.