A Delivery of Inventory from a Vendor,with Whom a Credit

question 93

Multiple Choice

A delivery of inventory from a vendor,with whom a credit line is already established,would be initially recorded in which type of accounting record and as part of what transaction cycle?

• A)purchases journal;expenditure cycle
• B)general journal;expenditure cycle
• C)general ledger;expenditure cycle
• D)cash disbursements journal;production cycle

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Definitions:

Medical Study

Research conducted to investigate health-related outcomes, treatments, or conditions in a controlled and systematic manner.

Cycling

The activity of riding bicycles, either as a sport, a method of transportation, or a leisure activity.

Supply and Demand

The fundamental economic model that describes how prices are determined in a market based on the available quantity of goods or services and the desire for them.

Equilibrium Price

The price at which the supply of an item matches its demand, ensuring that the market is in balance.