For Each Transaction Provided, Choose the Appropriate Account from the List

question 152

Short Answer

For each transaction provided, choose the appropriate account from the list that would receive a debit entry as a result of the transaction. (Choices may be used more than once.)
a.Cash
b.Accounts receivable
c.Supplies
d.Prepaid insurance
e.Land
f.Equipment
g.Accounts payable
h.Unearned revenues
i.Notes payable
j.Common stock
k.Retained earnings
l.Service revenue
m.Salary expense
n.Insurance expense
o.Utilities expense
p.Dividends
-Purchasing equipment for cash

Identify appropriate situations for using the direct approach.

Identify appropriate situations for using the indirect approach.

Recognize effective buffers and opening statements for negative news messages.

Formulate effective ways to present bad news to maintain good relationships.

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Definitions:

Politics

The set of activities associated with the governance of a country or area, involving the debate and execution of policies.

Networking Activities

Actions undertaken to establish and maintain professional relationships that could lead to opportunities for career development and advancement.

Career Success

The achievement of personal work-related goals and fulfillment in one's professional life over time.

Machiavellians

Machiavellians refer to individuals who exhibit a manipulative personality trait, often using deceit or cunning as a strategy to achieve their goals.