The Entry to Adjust for the Cost of Supplies Used

question 109

Multiple Choice

The entry to adjust for the cost of supplies used during the accounting period is

• A) debit Supplies Expense; credit Supplies
• B) debit Owner's Equity; credit Supplies
• C) debit Accounts Payable; credit Supplies
• D) debit Supplies; credit Owner's Equity

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Definitions:

Precycling

The practice of reducing waste by attempting to avoid bringing into the home or business items which will generate waste.

Sensory Memory

The shortest-term element of memory, it is the ability to retain impressions of sensory information after the original stimuli have ended.

Long-term Memory

A type of memory responsible for the storage of information over an extended period, ranging from days to decades.

Working Memory

A cognitive system with a limited capacity that is responsible for temporarily holding information available for processing and manipulation.