The Journal Entry Used to Record Money Due on the Allotment

question 25

Multiple Choice

The journal entry used to record money due on the allotment of shares is

• A)Debit Allotment
• Credit Share Capital
• B) Debit Bank
• Credit Share Capital
• C)Debit Share Capital
• Credit Allotment
• D) Debit Allotment
• Credit Application

---

Definitions:

Scientific thinking

Involves using systematic, evidence-based methods and critical analysis to solve problems and make decisions.

Rules of thumb

General principles that provide practical instructions or guidance, based on experience rather than theory, for making decisions or solving problems.

Simplifying strategies

Approaches or methods aimed at reducing complexity and making tasks or processes easier to understand and manage.

Heuristics

Mental shortcuts or rules of thumb that simplify decision-making processes, often used when facing complex problems or incomplete information.