When the Amount for a Debit Entry in a General

question 43

Multiple Choice

When the amount for a debit entry in a general journal is transferred to a specific account in the general ledger, it must be posted as a:

• A) debit to the account in the general ledger.
• B) credit to the account in the general ledger.
• C) total amount, without regard to debit or credit, since the general ledger accounts do not have spaces for debit and credit entries.
• D) decrease to the account in the general ledger.

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Definitions:

Supply Chain Management

The oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer, aiming to streamline a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace.

Loss Incurred

Refers to a financial deficit that results from a business operation, transaction, or other activities.

Unsold Unit

A product unit that remains unsold after being offered to the market, representing a missed revenue opportunity.

Production Methods

Various approaches and techniques used in the creation of goods and services, including mass production, batch production, and custom production.