The Accounting Entry to Record the Payment of a Liability

question 32

Multiple Choice

The accounting entry to record the payment of a liability is

• A)Debit an asset account and credit a liability account
• B)Debit a liability account and credit an equity account
• C)Debit an equity account and credit a liability account
• D)Debit a liability account and credit an asset account

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Definitions:

Bandura

Albert Bandura is a psychologist who proposed the social learning theory, emphasizing that people learn from observing others' behaviors, attitudes, and outcomes of those behaviors.

Latency Stage

A phase in psychosexual development proposed by Freud, occurring approximately between the ages of 5 and puberty, where sexual urges are repressed.

Sexual Quiescence

A period of sexual inactivity or reduction in sexual desire, which might be natural or due to various psychological or physical factors.

Intellectual Skills

The cognitive abilities related to thinking, reasoning, problem-solving, and learning.