When a business provides services for cash, which elements of the accounting equation are affected? Multiple Choice Revenue and Expense Cash and Revenue Cash and Expense Cash and Dividends

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter2: Introduction To Financial Statements
Section: Chapter Questions
Problem 5MC: Assume a company has a $350 credit (not cash) sale. How would the transaction appear if the business...
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**Question 3:**
*When a business provides services for cash, which elements of the accounting equation are affected?*

**Multiple Choice Options:**

- ⭕ Revenue and Expense
- ⭕ Cash and Revenue
- ⭕ Cash and Expense
- ⭕ Cash and Dividends
Transcribed Image Text:**Question 3:** *When a business provides services for cash, which elements of the accounting equation are affected?* **Multiple Choice Options:** - ⭕ Revenue and Expense - ⭕ Cash and Revenue - ⭕ Cash and Expense - ⭕ Cash and Dividends
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