A Check Drawn by a Company in Payment of a Voucher

question 48

Multiple Choice

A check drawn by a company in payment of a voucher for $965 was recorded in the journal as $695. What entry is required in the company's accounts?

• A) debit Accounts Payable; credit Cash
• B) debit Cash; credit Accounts Receivable
• C) debit Cash; credit Accounts Payable
• D) debit Accounts Receivable; credit Cash

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Definitions:

Marx

Karl Marx, a 19th-century philosopher, economist, and revolutionary, known for his theories about capitalism and communism.

Demographic Transition Theory

A theory that describes the transition from high birth and death rates to lower birth and death rates as a country develops from a pre-industrial to an industrialized economic system.

Population Development

The study of changes in population numbers, composition, and distribution, and how these changes affect socio-economic development.

Crude Birth Rate

The number of live births per 1,000 population in a given year.