The Effect on the Balance Sheet of a Business Buying

question 39

Multiple Choice

The effect on the balance sheet of a business buying supplies for cash is to:

• A) increase asset supplies; decrease asset bank.
• B) decrease asset supplies; increase asset bank.
• C) increase asset supplies; increase asset bank.
• D) decrease asset supplies; decrease asset bank.

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Definitions:

Quality Circle

A volunteer group composed of workers who meet together to discuss workplace improvement and problem-solving strategies.

Internal Customers

Employees or departments within an organization who depend on the support or services provided by other parts of the company to fulfill their job duties.

Workflow

The sequence of industrial, administrative, or other processes through which a piece of work passes from initiation to completion.

Manufacture of a Product

The process of producing goods through the combination of labor, machinery, and processing or assembly operations.