The Accounts Receivable T Account Shows the Following $250, Debit

question 11

Multiple Choice

The Accounts Receivable T account shows the following $250, debit
$1,250, debit
$300, credit
$250, credit
What is the balance of the account?

• A)$1,500, debit
• B)$550, credit
• C)$950, debit
• D)$950, credit
• E)$2,050, debit

---

Definitions:

Deficits

Situations in which a government's expenditures exceed its revenues during a specific period, leading to borrowing or debt accumulation.

Federal Budget Deficit

The shortfall that occurs when the federal government's expenditures exceed its revenues within a fiscal year.

National Debt

The total amount of money that a country's government has borrowed, typically from domestic or international lenders.

Balanced Budget

A balanced budget occurs when a government's total expenditures are equal to its total revenues within a specified period, avoiding deficits and surpluses.