To Reverse a Sales Invoice for Selecting the Wrong Customer,you

question 9

Multiple Choice

To reverse a sales invoice for selecting the wrong customer,you should -

• A)open the adjusting sales invoice window and choose the reverse entry tool
• B)open the receipts journal and pay the invoice to cancel it
• C)open the adjusting sales invoice window and edit the customer name (choose the correct customer)
• D)make a general journal adjustment that reduces Accounts Receivable and the revenue accounts for the invoice amount

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, stabilizing the market.

Efficiency

A measure of how well resources are used to achieve a goal, typically minimizing waste and cost while maximizing output or outcomes.

Least Possible Cost

The minimum expense required to achieve a particular economic objective.

General Equilibrium

A situation in which supply and demand are balanced across all markets in the economy.