The Account That Is Credited for Every Transaction Entered in the Purchases

question 18

Multiple Choice

The account that is credited for every transaction entered in the purchases journal is:

• A)cash.
• B)accounts payable.
• C)accounts receivable.
• D)sales discounts.

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Definitions:

Rate of Return

Increment or decrement in the financial worth of an investment across a chosen timeframe, calculated as a percentage of the investment's initial cost.

Dividend

A dividend is a portion of a company's earnings distributed to its shareholders, reflecting a share of the corporation's profitability decided by the board of directors and paid on a regular basis.

Straight Voting

A method of voting in corporate elections where shareholders must vote for directors individually, allocating one vote per share owned to each board candidate.

Personal Control

The extent to which individuals feel they can control their environment and outcomes, affecting their motivation and behavioral engagements.