When a Pizza Maker Lists the Price of a Pizza

question 53

Multiple Choice

When a pizza maker lists the price of a pizza as $10, this is an example of using money as a:

• A)store of value. unit of
• B)account. medium of
• C)exchange. flow of
• D)value.

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Definitions:

Subsidiary Ledger

A ledger that contains accounts of a single type. Example: The accounts receivable subsidiary ledger records all credit customers.

Uncollectible

Refers to accounts receivable that are unlikely to be recovered from debtors.

Debited

An accounting term describing an entry that increases an asset or expense account, or decreases a liability or equity account.

Allowance for Doubtful Accounts

An estimate of the amount of accounts receivable that may not be collectible.