Which of the Following Journal Entries Correctly Records the Receipt $\quad$

question 119

Multiple Choice

Which of the following journal entries correctly records the receipt of a utility bill which will be paid for in later weeks?

• A) Utilities payable
• \( \quad \)\( \quad \)Utilities expense
• B) Utilities expense
• \( \quad \)\( \quad \)Utilities payable
• C) Utilities expense
• \( \quad \)\( \quad \)Retained earnings
• D) Retained earnings
• \( \quad \)\( \quad \)Utilities payable

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Definitions:

Scientific Management

A management theory that applies scientific methods and principles to optimize work and enhance productivity, developed by Frederick W. Taylor.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often leading to prejudice and discrimination against people of other groups.

Information Filtering

The process of screening, selecting, and presenting information in a way that selectively reduces the volume of information available.

Arbitration

A method of dispute resolution involving a neutral third party who makes a binding decision.