The Entry to Record a Purchase of Merchandise on Credit

question 97

Multiple Choice

The entry to record a purchase of merchandise on credit includes:

• A)a debit to Purchases and a credit to Accounts Payable.
• B)a debit to Purchases and a credit to Accounts Receivable.
• C)a debit to Accounts Payable and a credit to Purchases.
• D)a credit to Purchases and a credit to Accounts Payable.

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Definitions:

Cognitive Readiness

The mental preparation and ability to learn or adapt to situations effectively.

Vocational Choices

Refers to the selection of occupations or professions based on individual preferences, skills, and interests.

Educational Choices

Decisions related to the pursuit of learning, including the selection of courses, programs, institutions, and modes of study.

Holland's Personality Types

A theory that categorizes people into six personality types—Realistic, Investigative, Artistic, Social, Enterprising, and Conventional—to help explain career choices.