What Business Event Is Represented by This Journal Entry

question 38

Multiple Choice

What business event is represented by this journal entry?

• A)Incurred supplies expense.
• B)Purchased supplies on account.
• C)Used supplies.
• D)Purchased supplies with cash.

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Definitions:

Top-Down

A management style or approach where decisions are made at the highest levels of the organization and then transmitted down the hierarchy.

Linear Model

A representation or approach that assumes a straight-line relationship between variables, often used in statistics and forecasting.

Hierarchical Level

A ranking system within an organization where positions are placed in levels of importance and authority from the highest to the lowest.

Compensation Level

The relative amount of payment or reward that an employee receives for doing their job, including wages, salaries, bonuses, and benefits.