Decreases in Equity That Represent Costs of Assets or Services

question 9

Multiple Choice

Decreases in equity that represent costs of assets or services used to earn revenues are called:

• A) Liabilities.
• B) Equity.
• C) Withdrawals.
• D) Expenses.
• E) Owner's Investment.

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Definitions:

Shift

A change in position, direction, or focus; often used to describe changes in work schedules.

Medications

Substances used to diagnose, treat, cure, or prevent disease and relieve symptoms.

Week

A period of seven consecutive days, commonly considered as starting on Sunday and ending on Saturday.

Dimensional-analysis

A technique in chemistry and physics used to convert one unit of measurement to another, utilizing the fact that the dimensions of the original and converted measurement must be the same.