At the End of the Month,the Adjusting Journal Entry to Record

question 12

Multiple Choice

At the end of the month,the adjusting journal entry to record the use of supplies would include a debit to:

• A)Supplies and a credit to Supplies Expense.
• B)Supplies Expense and a credit to Supplies.
• C)Supplies and a credit to Service Revenue.
• D)Supplies and a credit to Cash.

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Definitions:

Cultural Assessments

The process of evaluating and understanding the cultural values, beliefs, and practices of a group or community, often used in social, educational, and business contexts.

Values

Principles or standards of behavior that guide the decision-making and lifestyle choices of individuals or societies.

Norms

Unwritten rules and expectations that guide behavior within a society or social group.

Lost Profit

Revenue that a business could have gained but was unable to due to some disrupting event or action.