A Delivery of Inventory from a Vendor,with Whom a Credit

question 93

Multiple Choice

A delivery of inventory from a vendor,with whom a credit line is already established,would be initially recorded in which type of accounting record and as part of what transaction cycle?

• A)purchases journal;expenditure cycle
• B)general journal;expenditure cycle
• C)general ledger;expenditure cycle
• D)cash disbursements journal;production cycle

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Definitions:

Egocentric

This term describes a cognitive perspective where an individual is unable to differentiate between their own viewpoint and that of others.

Sponge

An object or organism able to absorb liquid quickly; metaphorically, a person who absorbs information readily.

Rock

A naturally occurring solid aggregate of minerals or mineral-like substances.

Decentered Thinking

Refers to the ability to consider multiple aspects of a situation simultaneously, characteristic of more advanced stages of cognitive development.