Which of the Following Statements About the Default Linked Expense

question 12

Multiple Choice

Which of the following statements about the default linked expense account for a supplier is incorrect

• A) you can select an asset account as the linked account
• B) the default account may be changed in the purchases journal
• C) you must select an expense account as the linked account
• D) the linked account is entered on the supplier's option tab input screen

---

Definitions:

Cost

The total expenditure required to produce a good or service, including materials, labor, and other expenses.

Units

Units refer to the basic measure or quantity of a product, service, or the fundamental quantity used in measurement.

Labor

The effort by humans directed towards producing goods and services; in economics, it's considered one of the primary factors of production alongside land and capital.

Output

The amount of goods or services produced by a company, industry, or country within a specific period.