When a Payment Is Made on an Account Payable

question 146

Multiple Choice

When a payment is made on an account payable:

• A)Assets and stockholders' equity decrease.
• B)Assets and liabilities decrease.
• C)Liabilities and revenues decrease.
• D)Assets and expenses decrease.

---

Definitions:

Improved Standards

Enhancements or upgrades to guidelines, practices, or benchmarks that elevate the quality and efficiency of processes, products, or systems.

Technology

Technology encompasses the collection of tools, machines, modifications, arrangements, and procedures used by humans to solve problems, perform tasks and achieve specific objectives.

Energy Input

The amount of energy required to produce a given level of output or to perform a specific task.

Replacement Rate

The total fertility rate necessary to offset deaths in a country and thereby keep the size of its population constant (without relying on immigration). For most countries, a total fertility rate of about 2.1 births per woman per lifetime.