On June 1, 2014 Quang Le Buys a Copier Machine

question 101

Multiple Choice

On June 1, 2014 Quang Le buys a copier machine for his business and finances this purchase with cash and a note. When journalizing this transaction, he will

• A) use two journal entries.
• B) make a compound entry.
• C) make a simple entry.
• D) list the credit entries first, which is proper form for this type of transaction.

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Definitions:

Vandalism

The deliberate destruction or damage of public or private property.

Social Loafing

A group dynamic where individual contributions towards a goal diminish in comparison to efforts made when working alone.

Exert

To apply or bring to bear a force, influence, or quality, typically with effort.

Common Goal

A shared aim or objective by a group of people, which often motivates collective action toward its achievement.