Choose the One Alternative That Best Completes the Statement or Answers

question 30

Multiple Choice

Choose the one alternative that best completes the statement or answers the question. FIGURE 6-8
-Refer to Table 6-1. If the prices of toffee bars and bags of cashews are both $1 and this consumerhas $11 per week to spend on snacks, how many of each will he/she purchase?

• A) 4 toffee bars and 7 bags of cashews.
• B) 5 toffee bars and 5 bags of cashews.
• C) 6 toffee bars and 5 bags of cashews.
• D) 5 toffee bars and 6 bags of cashews.
• E) 3 toffee bars and 8 bags of cashews.

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Definitions:

Revenue Journal

A specialized accounting journal used to record the company's revenue transactions, distinguishing them from other types of financial transactions.

Accounts Payable Subsidiary Ledger

The subsidiary ledger containing the individual accounts with creditors (suppliers).

Cash Payments Journal

A business ledger that documents every cash expenditure or payment conducted by a company.

Purchases Journal

A purchases journal is a special journal used in accounting to record all purchases of merchandise, supplies, or other assets on credit.