A Business Makes a Cash Payment to a Supplier "On

question 68

Multiple Choice

A business makes a cash payment to a supplier "on account" (for supplies which were purchased earlier.) Which account is credited?

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

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Definitions:

Combust

The process of burning or igniting a substance, resulting in light, heat, and often combustion products like gases or ash.

Subside

Decrease in intensity or severity, often referring to something undesirable like pain, noise, or emotions.

Scope Of Employment

relates to actions taken or tasks performed by an employee that fall within the duties and responsibilities of their job, and for which an employer may be legally responsible.

Real Estate Broker

A licensed professional who arranges real estate transactions, acting as an intermediary between buyers and sellers.