A Liability Would Be Credited and an Expense Debited If

question 130

Multiple Choice

A liability would be credited and an expense debited if

• A) the business paid a creditor.
• B) the business incurred an expense and did not pay the expense immediately.
• C) the business bought supplies on account.
• D) the business bought supplies for cash.

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Definitions:

Characteristics

Distinctive features or qualities that define a person, object, or concept.

Experiences

Experiences are events or occurrences that leave an impression on someone, contributing to their knowledge, understanding, or development.

Intercultural Communication

The process of exchanging meaningful information between individuals from different cultural backgrounds.

Supervisors

Individuals in a position of authority who oversee and manage the work of others in an organization.