The Net Effect of the Entries to Recognize the Receipt

question 50

Multiple Choice

The net effect of the entries to recognize the receipt of a previously written-off account under the allowance method is to:

• A)have no effect on total assets or total equity.
• B)increase total equity only.
• C)decrease total assets.
• D)increase total assets and total equity.

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Definitions:

Sensorimotor

Relating to or involving both sensory and motor functions or pathways.

Preoperational

A stage in Jean Piaget’s theory of cognitive development where children aged 2 to 7 years old are able to use symbols and language but do not yet understand concrete logic.

Concrete Operational

A stage in Piaget's theory of cognitive development (typically age 7-12) where children gain the ability to think logically about concrete (physical and visible) events.

Ejaculation

Ejaculation is the discharge of semen from the male reproductive tract as a result of sexual arousal.