A Business Pays $500 Cash for Supplies

question 106

Multiple Choice

A business pays $500 cash for supplies.Which account is debited?

• A) Cash
• B) Accounts payable
• C) Supplies
• D) Service revenue

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Definitions:

Major Kitchen Appliances

Large household appliances such as refrigerators, stoves, and dishwashers that are essential for kitchen operations.

Retail Credit Company

A company specializing in the issuance and management of credit to consumers, often directly linked to specific retail stores or brands.

Work-in-Progress

Inventory that includes goods in the process of being manufactured but not yet completed.

Raw Timber

Unprocessed wood that has been harvested from trees and is typically used for construction, manufacturing, or paper products.