Which Account Is Least Likely to Be Credited When an Expense

question 4

Multiple Choice

Which account is least likely to be credited when an expense is recorded?

• A)Cash.
• B)Accounts Payable.
• C)Prepaid Expenses.
• D)Accounts Receivable.

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Definitions:

Production Inefficiency

A situation where resources are not utilized in the best possible manner, resulting in wasted potential output.

Production Possibility Frontier

A graphical representation that shows the maximum combination of two goods or services that can be produced within a given time period, given available resources and technology.

Economic Growth

A growth in an economy's ability to generate goods and services when comparing two different time periods.

Unemployment

A condition where people who are willing to work at prevailing wage rates cannot find employment.