Which of the Following Entries Would Be Recorded If a Company

question 149

Multiple Choice

Which of the following entries would be recorded if a company is using the cash-basis method of accounting?

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 1,000 & \\
• \hline \text { Accounts receivable } & & 1,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Salary expense } & 1,000 & \\
• \hline \text { Salary payable } & & 1,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | r | }
• \hline \text { Prepaid rent } & 1,000 & \\
• \hline \text { Cash } & & 1,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Rent expense } & 1,000 & \\
• \hline \text { Cash } & & 1,000 \\
• \hline
• \end{array}\]

Understand the impact of life events and transitions on mood disorders.

Realize the side effects of pharmacotherapy and other biological treatments for mood disorders.

Understand the concept of differentiated marketing strategy.

Grasp the implication of marketing strategies on economies of scale and customer value.

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Definitions:

Law of Conveyancing

A body of law pertaining to the transfer of ownership of property rights from one person to another.

Marketable Title

A clear title to real estate that is free from any significant liens or encumbrances, making it readily sellable.

Warranty Deed

A legal document in real estate transactions that guarantees the seller holds clear title to the property and has the right to sell it.

Implied Warranty

An unwritten guarantee that a product or service is fit for the purpose it was sold for, based on the reasonable expectations of the consumer.