Which of the Following General Ledger Accounts Would Likely Not

question 5

Multiple Choice

Which of the following general ledger accounts would likely not be impacted in a purchases and payments process?

• A)Accounts Receivable.
• B)Inventory.
• C)Purchase Discounts.
• D)Cash.

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Definitions:

Bank Liability

The legal obligations or debts that a bank is responsible for, such as deposits and loans.

Skillfully Altered

Modified or changed in a way that demonstrates a high level of expertise or craftsmanship.

Drawer's Account

The bank account on which a check is drawn; the account belonging to the individual who has written the check.

Bank Liability

Refers to the legal obligations and responsibilities of a bank, including potential debts or legal liabilities arising from its operations.