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Accounting term best describes the concept

Problem: Young Associates sold business services to another organization. As a result, Young's assets increased. Which accounting term best describes the concept involved in this situation?

A) Financing activity.
B) Liability.
C) Revenue.
D) Dividends.

Please select one of the answers stated above.

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Accounting term best describes the concept

Reference No:- TGS01739700

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Operating income using absorption costing

Q : Process of evaluating manufacturing overhead costs

Q : Determine the selling price of the bonds

Q : Type of account asset or expense

Q : Accounting term best describes the concept

Q : Reporting the financial affairs and activities

Q : Economic interest in tree top airlines

Q : Record the expiration of prepaid rent

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Accounting term best describes the concept

Reference No:- TGS01739700

Recent Questions Asked Accounting Basics

Q : Operating income using absorption costing

Q : Process of evaluating manufacturing overhead costs

Q : Determine the selling price of the bonds

Q : Type of account asset or expense

Q : Accounting term best describes the concept

Q : Reporting the financial affairs and activities

Q : Economic interest in tree top airlines

Q : Record the expiration of prepaid rent

Q : Entries to establish security alarm maintenance

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