Which of the Following Transactions for July Represents an Expense

question 41

Multiple Choice

Which of the following transactions for July represents an expense for the month?

• A) Paid $15 000 in advance as first payment for a new computing system.
• B) Purchased inventory on account for resale in August.
• C) Paid cash of $2000 to the bank for July interest on loan.
• D) Borrowed $80 000 from the bank, repayable over four years.

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Definitions:

Maternal Employment

The engagement of mothers in paid work outside the home, often analyzed in relation to its effects on family life and child development.

Child Development

Refers to the physical, cognitive, emotional, and social growth that occurs from birth through the end of adolescence.

Homemakers

Individuals, traditionally women, whose primary responsibility is managing household duties and caring for the family.

Authoritarian Parenting

A parenting style characterized by high demands and low responsiveness, where parents enforce strict rules and expect obedience without question.