Which One of the Following Is a Source of Cash

question 72

Multiple Choice

Which one of the following is a source of cash?

• A)repurchase of common stock
• B)acquisition of debt
• C)purchase of inventory
• D)payment to a supplier
• E)granting credit to a customer

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts and prepare the company’s books for the next accounting period.

Merchandise Inventory

Goods that a company holds in stock with the intent to sell them as part of its business operations.

Purchase Discount

A reduction in the price of goods that a buyer can avail of for making early payments to the seller.

Sales Discount

A reduction in the price of goods or services offered to a customer, typically used to incentivize prompt payment.