Which of the Following Is an Asset Source Transaction

question 58

Multiple Choice

Which of the following is an asset source transaction?

• A)Issued common stock.
• B)Paid a cash dividend to stockholders.
• C)Received a payment on accounts receivable.
• D)Accrued salary expense.

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Definitions:

Expendable Trust Fund

A fund consisting of assets held in a trust that can be used up or expended, typically for designated purposes as per the trust's terms.

Modified Accrual Accounting

An accounting method that combines aspects of both accrual and cash accounting, recognizing revenues when they are earned and expenses when they are incurred or paid.

Long-Term Debt

Financial obligations of a company that are due more than one year in the future, often including bonds, mortgages, and leases.

Permanent Fund

A fund established by a government or organization meant to provide a permanent source of income.