Multiple Choice
The receipt of payment for an account receivable:
A) affects only the asset side of the accounting equation.
B) affects assets and equity.
C) affects assets and liabilities.
D) has no effect on the accounting equation.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q16: An example of a personal transaction would
Q17: Which of these is not part of
Q18: Borrowing $10 000 from the bank to
Q19: A common error that occurs when a
Q20: An accountant sent an invoice to a
Q22: Which of the following is not a
Q23: The business completes a purchase order for
Q24: Occurrences that have the potential to affect
Q25: The effect of profit on the accounting
Q26: A business borrows $10 000 from the