The Business Bought Supplies on Account

question 6

Multiple Choice

The business bought supplies on account. To record this,

• A) an expense is debited and a liability is credited.
• B) an asset is debited and an asset is credited.
• C) an asset is debited and a liability is credited.
• D) None of these are correct.

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Definitions:

Ishtar Gate

The elaborate entrance gate to the ancient city of Babylon, constructed in about 575 BCE by order of King Nebuchadnezzar II, dedicated to the goddess Ishtar and known for its blue glazed tiles and depictions of dragons and bulls.

Blue-Glazed Tile

Ceramic tiles coated with a blue glaze, typically used in Islamic architecture for decorative purposes.

Administrative Center

refers to a central location or building that serves as the main hub for managing and directing the operations and activities of an organization or a government.

Sumerian City

Ancient urban centers in the region of Sumer, in southern Mesopotamia, notable for their ziggurats, early forms of writing, and as centers of early civilization.