Regarding the Relationships of Revenues and Expenses to Assets and Liabilities

question 13

Short Answer

Regarding the relationships of revenues and expenses to assets and liabilities, state whether each of the following statements is true or false.
_____ a) Recording an increase in a revenue account may be associated with an increase in assets.
_____ b) Recording an increase in a revenue account may be associated with a decrease in liabilities.
_____ c) An increase in Salaries Expense may be accompanied by a decrease in Salaries Payable.
_____ d) Recording a decrease in assets may be associated with an increase in an expense account.
_____ e) An increase in Supplies may be accompanied by an increase in Supplies Expense.

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Definitions:

Cognitive Functioning

The level at which the brain is able to manage and use information, including memory, awareness, reasoning, and decision-making skills.

Referral

The process of directing someone to another professional or service for additional expertise, assistance, or treatment.

Test Manual

A comprehensive guide that accompanies a test, providing instructions for administration, scoring, and interpretation.

Culturally Appropriate

Refers to practices, interventions, or assessments that are sensitive to and respectful of the cultural backgrounds and values of individuals or groups.