Which of the Following Is the Best Example of an Organizational

question 111

Multiple Choice

Which of the following is the best example of an organizational buyer?

• A) a mother buying milk for her young son
• B) a computer programmer buying the latest game for his PlayStation 3
• C) a store owner buying hand-painted slate signs to sell in her store
• D) a botanist buying a rose bush for his home garden
• E) a parent buying a softball glove for a daughter

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Definitions:

Journal Entry

A record in the accounting journal that represents a transaction and includes debits and credits.

Cash Register Overages

The situation where the amount of cash in a cash register exceeds the expected amount based on sales records.

Petty Cash Fund

A small amount of cash kept on hand within a business for minor, day-to-day expenses.

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.