At the Beginning of Its First Year of Operations,Henry Corp

question 16

Multiple Choice

At the beginning of its first year of operations,Henry Corp.purchased $5,000 of supplies,which were debited to the Supplies account.It did not purchase any other supplies during the year.At the end of the year,it has $1,000 of supplies left.The appropriate adjusting journal entry is:

• A) Debit Supplies Expense $4,000 and credit Supplies $4,000
• B) Debit Supplies $4,000 and credit Supplies Expense $4,000
• C) Debit Supplies $1,000 and credit Supplies Expense $1,000
• D) Debit Supplies Expense $1,000 and credit Supplies $1,000

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Definitions:

Persist

To continue steadfastly or firmly in some state, purpose, course of action, or the pursuit of an objective, despite difficulties, obstacles, or discouragement.

Locus of Control

A psychological concept that refers to how strongly people believe they have control over the situations and experiences that affect their lives.

Genetic Traits

Inherited characteristics passed down from parents to offspring, determined by genes, influencing physical and sometimes behavioral attributes.

Health Locus of Control

Health locus of control is a concept reflecting individuals' beliefs about the control they have over their health, distinguishing between internal (self-induced change) and external (influenced by external forces) perceptions.