A Business Purchases Equipment for Cash in the Amount of $8,000.Which

question 140

Multiple Choice

A business purchases equipment for cash in the amount of $8,000.Which account is credited?

• A) Cash
• B) Accounts payable
• C) Utilities expense
• D) Equipment

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Definitions:

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs.

San Diego

A coastal city in the U.S. state of California, known for its beaches, parks, and warm climate.

Nashville

The capital city of the U.S. state of Tennessee, known for its vibrant music scene, particularly in country and western music.

Housing Prices

The cost at which residential properties are bought and sold in the market.