Multiple Choice
A company performs services for a client on account. When the company receives the cash from the customer one month later:
A) a revenue account is increased.
B) a liability account is decreased.
C) an asset account is increased.
D) an expense account is decreased.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q38: Since cash is increased with a debit,
Q39: Indicate whether the account is an asset
Q40: The amount remaining in an account is
Q41: The entry to record the purchase of
Q42: The payment for monthly rent of an
Q44: If the trial balance does not balance,
Q47: Business managers must often make decisions without
Q48: When computing the normal balance of an
Q62: The account is the basic summary device
Q159: Which account has a normal debit balance?<br>A)Salaries