An Entry in the "Other Accounts" Column in a Cash

question 11

Multiple Choice

An entry in the "Other Accounts" column in a cash receipts journal could occur when the credit is to

• A) Owner's Drawings.
• B) Accounts Payable.
• C) Owner's Capital.
• D) Inventory.

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Definitions:

Delegating Budgetary Responsibility

The process of assigning the authority to manage budgets to individuals or teams.

Overall Supervision

The process of overseeing and directing all aspects of a project, operation, or organization to ensure that goals and standards are met.

Debt Ratio

A financial ratio that measures the extent of a company's leverage, calculated by dividing total liabilities by total assets.

Times Interest Earned

A financial ratio that measures a company's ability to meet its debt obligations based on its income before interest and taxes.