Jane Is an Osteopath Operating as a Sole Proprietor

question 12

Multiple Choice

Jane is an osteopath operating as a sole proprietor.On 1 February she treats a patient on credit who she invoices for $120.The effect of this transaction on the accounting equation is:

• A)Increase in cash at bank $120,decrease in liability accounts payable $120
• B)Increase in equity $120,increase in liability accounts payable $120
• C)Increase in asset accounts receivable $120,increase in equity$120
• D)Increase in cash at bank $120,increase in equity $120

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Definitions:

Italian Prime Minister

The head of government in Italy, responsible for leading the country's executive branch and implementing national policies and laws.

Motto

A short phrase or sentence that serves as a guiding principle or expresses the beliefs or ideals of an individual, family, or institution.

German Empire

A historic state in Central Europe, existing from 1871 to 1918, characterized by its imperial monarchy and rapid industrialization.

Junkers

The German noble landed aristocracy in Prussia, known for their significant military and political influence, especially before and during World War II.