When a Company Receives a Utility Bill but Will Not

question 9

Multiple Choice

When a company receives a utility bill but will not pay it right away, it should

• A)debit Utilities Expense and credit Accounts Receivable.
• B)debit Utilities Expense and credit Accounts Payable.
• C)debit Accounts Payable and credit Utilities Expense.
• D)make no entry until the bill is paid.

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Definitions:

Universal Law

This term can refer to principles that are universally accepted and applicable in various domains, including moral, physical, and legal realms.

Deontological Moral Philosophies

Ethical theories that emphasize duties and rules, judging actions as morally right or wrong based on adherence to a set of pre-determined rules.

Rights

Entitlements or permissions granted to individuals or groups, usually protected by law or moral principle, allowing them certain freedoms or claims.

Performance in the Workplace

The degree to which an employee executes their job duties and responsibilities effectively and efficiently.