Which of the Following Would Be the Effect of a Transaction

question 194

Multiple Choice

Which of the following would be the effect of a transaction to expense Supplies for the period?

• A) Increase Supplies, Decrease Supplies expense
• B) Increase Supplies expense, Decrease Cash
• C) Increase Supplies, Decrease Cash
• D) Increase Supplies expense, Decrease Supplies
• E) Decrease Supplies expense, Decrease Cash

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Definitions:

Unrealized Profit

Profit earned on paper from an investment that has increased in value but has not yet been sold by the investor.

Consolidated SFP

The Consolidated Statement of Financial Position, which shows the financial position of a parent company and its subsidiaries as a single entity.

Subsidiary's Net

Subsidiary's net often refers to the net income or net assets of a subsidiary company after accounting for its financial activities and obligations.

Cumulative Operations

The total operational activities and outcomes of an organization over a period of time, often including various financial metrics and performance indicators.