Which of the Following Entries Records the Investment of Cash

question 58

Multiple Choice

Which of the following entries records the investment of cash by John, owner of a sole proprietorship?

• A) Debit John, Capital; credit Cash
• B) Debit Cash; credit John, Withdrawals
• C) Debit John, Withdrawals; credit Cash
• D) Debit Cash; credit John, Capital

Analyze the role of population growth and demographic trends in economic development.

Recognize the importance of transnational communities and their social and political implications.

Understand the impact of colonization and decolonization on global economic systems.

Discuss the factors influencing the status and poverty of women globally.

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Definitions:

Internal Control

Processes and procedures implemented by a company to safeguard its assets, enhance the reliability of its accounting records, promote efficient operations, and ensure compliance with laws and regulations.

Physical Count

A physical count involves manually counting the actual inventory to verify accuracy against inventory records, often used for audit purposes or to correct discrepancies.

Physical Count

The process of manually counting and verifying the quantities of inventory on hand at a specific point in time.

Inventory Records

Documentation that tracks the quantities, locations, and statuses of products a company has in stock.