What Business Event Is Represented by a Journal Entry That

question 2

Multiple Choice

What business event is represented by a journal entry that shows a debit to supplies of $800 and a credit to accounts payable of $800?

• A) The company incurred supplies expense.
• B) The company purchased supplies with cash.
• C) The company used supplies.
• D) The company purchased supplies on account.

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Definitions:

Ages 2-7

Ages 2-7, in psychological development, typically refer to the preoperational stage in Piaget's theory of cognitive development, characterized by rapid language development and symbolic thinking.

Egocentrism

The inability to differentiate between one's own perspective and that of others, often seen in early childhood development.

Conservation

Understanding that certain properties of physical objects remain the same even when their outward appearance changes.

Concrete Operational Stage

A stage in Piaget's theory of cognitive development where children between ages 7 and 11 develop logical thinking but are not yet capable of abstract thought.