For a Retail Business,a Delivery of Inventory,from a Vendor (With

question 11

Multiple Choice

For a retail business,a delivery of inventory,from a vendor (with whom there is an established credit relationship) would be initially recorded in which type of accounting record as part of which transaction cycle?

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

---

Definitions:

Dividends

Distributions of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders.

Journal Entries

Recorded transactions in the accounting system that show the effects of financial events on the accounts of a company.

Investment Account

An account held at a financial institution that contains securities, cash, and other investment vehicles.

Related Income

Income that arises from transactions or relationships between entities that have a special connection or are part of the same group.