Bill Purchased Office Supplies for $500 Cash

question 33

Multiple Choice

Bill purchased office supplies for $500 cash.What is the effect on accounts?

• A) Cash account increases; Accounts payable increases.
• B) Cash account increases; Supplies account increases.
• C) Supplies account increases; Cash account decreases.
• D) Supplies account increases; Owner's capital account increases.

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Definitions:

Motor Vehicle Accident

An unplanned event involving a motorized vehicle that results in damage or injury.

Local Merchant

An individual or business that sells goods or services within a particular local area or community.

Bargaining Unit

A group of employees with a clear and identifiable community of interests who are represented by a single labor union in bargaining and negotiations.

Certification

An official recognition or guarantee that an individual, product, or organization meets certain standards or qualifications.