Help me to answer this question. Tq guys Question (6) What is the effect...
60.1K
Verified Solution
Link Copied!
Question
Finance
Help me to answer this question. Tq guys
Question (6) What is the effect on the statement of financial position when a deposit that was previously accepted by the business is earned because the contract was fulfilled, and the amount of the deposit is returned to the customer? O Cash decreases and the deposits liability account increases O The deposits asset account decreases and the deposits liability account increases The deposits asset account decreases and the deposits liability account decreases The deposits asset account decreases and the cash account increases
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!