Consider the Following Short Case as You Respond to the Next

question 7

Multiple Choice

Consider the following short case as you respond to the next question: VLC Corporation sold merchandise with a cost of $200 on account for $300 to PRT Corporation; credit terms were 2 / 10, n / 30. VLC paid the outgoing freight charge of $10. PRT paid the invoice within the discount period.The entries in VLC's accounting information system to record all the preceding events will include all of the following except:

• A)Debit Accounts Receivable, $300. Credit Sales, $300.
• B)Debit Cost of Goods Sold, $200. Credit Inventory, $200.
• C)Debit Delivery Expense, $10. Credit Cash, $10.
• D)Debit Cash, $294. Debit Inventory, $6. Credit Accounts Receivable, $300.

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Definitions:

Prescriptive Part

An aspect of theories or guidelines that offers specific recommendations or procedures to achieve desired outcomes.

Authentic Leadership

A leadership style characterized by the leader’s genuine self-expression that is consistent with their inner thoughts and feelings, promoting trust and confidence among followers.

Positive Psychology

A branch of psychology focused on the study of positive human functioning and factors that contribute to a fulfilling and meaningful life.

Positive Organizational Behavior

A focus within organizational studies on the application of positively oriented human resource strengths and psychological capacities that can be measured, developed, and effectively managed.