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:

Consumer Orientation

Business philosophy that focuses first on determining unmet consumer wants and needs and then designing products to satisfy those needs.

Work Ethics

A set of values based on discipline and hard work, guiding how individuals perform their job duties and responsibilities.

Capital Expenditure

Capital expenditure, or CapEx, involves funds used by a company to acquire, upgrade, and maintain physical assets such as property, industrial buildings, or equipment.

Social Era

Business era in which companies seek ways to connect and interact with customers using technology.