If Accounts Payable Has Been Debited, It Is Most Likely

question 88

Multiple Choice

If Accounts Payable has been debited, it is most likely that

• A) a payment was made on account.
• B) a purchase was made on account.
• C) a charge customer made a payment.
• D) None of these are possible.

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Definitions:

Outplacement

A service provided by organizations to assist former employees transition to new jobs, offering support such as resume writing and interview coaching.

Employee Leasing

A business arrangement where a company contracts with a third-party firm to handle the administration, recruitment, and training of staff, effectively leasing the employees from the third party.

Trade Agreement

A formal arrangement between two or more countries to regulate tariffs, trade barriers, and other trade-related issues.

NAFTA

The North American Free Trade Agreement, a treaty between Canada, Mexico, and the United States that established a trilateral trade bloc in North America.