If a Company Records Merchandise It Returns to Suppliers in the General

question 53

Multiple Choice

If a company records merchandise it returns to suppliers in the general journal then

• A) a posting must be made only to the accounts payable control account.
• B) a posting must be made only to the accounts payable subsidiary ledger account.
• C) a dual posting must be made.
• D) there will be a debit to Inventory.

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Definitions:

Departmental Budget

A financial plan that outlines the projected income and expenses for a specific department within an organization over a set period of time.

Technical Skill

The specific knowledge and expertise required to perform particular tasks or use certain tools and technologies effectively.

Communicative Skill

The ability to convey information effectively and efficiently through verbal, non-verbal, written, and visual means.

Human Skill

The ability to work effectively with others, including communication, empathy, and management of relationships.