Which of the Following Journal Entries Is Correct When a Business

question 54

Multiple Choice

Which of the following journal entries is correct when a business entity purchases a building by paying cash and signing a note payable?

• A) Building
• \( \quad \)Cash
• \( \quad \)Notes Payable
• B) Building
• \( \quad \)Cash
• C) Cash
• Notes Payable
• \( \quad \) \( \quad \)Building
• D) Building
• Cash
• \( \quad \)Notes Payable

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Definitions:

Phone Screening

An initial interview conducted over the phone to assess a job applicant's qualifications before inviting them for a face-to-face interview.

Emergent

Arising suddenly and unexpectedly, requiring immediate attention.

Aggravating Factors

Circumstances or characteristics that can increase the severity or culpability of an action or condition.

Alleviating Factors

Aspects or conditions that can reduce the severity of symptoms or problems.