Indicate How Each Event Affects the Elements of Financial Statements $$\text { Increase } = \mathrm { I } \text { Decrease } = \mathrm { D } \text { No Effect } = \mathrm { N }$$

question 113

Short Answer

Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. $$\text { Increase } = \mathrm { I } \text { Decrease } = \mathrm { D } \text { No Effect } = \mathrm { N }$$
On September 30, 2014, Falls Company collected the accrued interest revenue on a one-year note receivable dated October 1, 2010. Show the effect of the collection of previously-accrued interest on Falls' financial statements.

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Definitions:

Hierarchy Of Needs

Maslow's theory proposing that human beings have a set of motivation systems unrelated to rewards or unconscious desires, typically depicted as a five-tier model of human needs.

Pyramidal Hierarchy

A system of organization where every entity in the organization, except one, is subordinate to a single other entity.

Hierarchy Of Needs

A theory in psychology proposed by Abraham Maslow that prioritizes human needs from the most basic such as physiological needs, to higher levels of needs such as self-actualization.

Positive Psychology

A branch of psychology focused on the study of positive human functioning and flourishing on multiple levels that include the biological, personal, relational, institutional, cultural, and global dimensions of life.