When Posting the Column Totals of a Cash Payments Journal

question 115

Multiple Choice

When posting the column totals of a cash payments journal, a debit should be posted to

• A) Cash
• B) Accounts Payable
• C) Sales Discounts
• D) Unearned Revenue

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Definitions:

Kickbacks

Illegal or unethical payments made in return for favors or services in business transactions, often seen as a form of bribery.

Utilitarianism

A personal moral philosophy that focuses on “the greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior.

Business Intelligence

The technologies and strategies a business employs to analyze data related to its operations, aiming to improve decision-making and performance through actionable insights.

Corruption

The abuse of entrusted power for private gain, which can occur in both the public and private sectors.