The One Characteristic That All Entries Recorded in a Multiple-Column

question 29

Multiple Choice

The one characteristic that all entries recorded in a multiple-column purchases journal have in common is a

• A) credit to the Cash account.
• B) debit to the Cash account.
• C) debit to the Accounts Payable account.
• D) credit to the Accounts Payable account.

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Definitions:

Per Capita Income

The average income earned per person in a given area in a specified year, used as an indicator of the economic health of a region.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured by the change in Real GDP.

Labor Productivity

A measure of economic performance that compares the amount of goods and services produced (output) with the number of labor hours used to produce them.

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, and water bodies.