When a Sales Journal's Sales Amount Column Is Totalled at the End

question 6

Multiple Choice

When a Sales Journal's sales amount column is totalled at the end of the month, the total is

• A) Debited to Sales and credited to Accounts Receivable
• B) Debited to Accounts Receivable and credited to Cash
• C) Debited to Cash and credited to Accounts Receivable
• D) Debited to Accounts Receivable and credited to Sales
• E) Debited to Cash and credited to Sales

Learn about the sociological perspectives and methodologies used to study religion.

Understand the critical theories regarding religion's role in societal oppression and cohesion.

Recognize the complex interplay between religion, identity, and social capital.

Understand the distinction between independent and dependent variables in experimental design.

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Definitions:

Depreciation

The accounting process of allocating the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Net Cash Flow

Net cash flow is the total amount of money being transferred into and out of a business, particularly in reference to the amount of liquidity.

Economic Value Added (EVA)

A method used to measure a firm’s true profitability. EVA is found by taking the firm’s after-tax operating profit and subtracting the annual cost of all the capital a firm uses. If the firm generates a positive EVA, its management has created value for its shareholders. If the EVA is negative, management has destroyed shareholder value.

Net Operating Profit After Taxes (NOPAT)

A company's operating profit after adjusting for taxes, useful for comparing the profitability of businesses.