A Business Makes a Cash Payment of $12,000 to a Supplier

question 81

Multiple Choice

A business makes a cash payment of $12,000 to a supplier. Which of the following accounts will be debited?

• A)Cash
• B)Accounts Payable
• C)Bank
• D)Accounts Receivable

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Definitions:

Taboos

Social or cultural prohibitions or restrictions that dictate certain behaviors, practices, or discussions are unacceptable or forbidden within a community or society.

Mores

Socially accepted standards and customs that are considered essential to the well-being and functioning of a culture or society.

Folkways

Norms for routine or casual interaction; these are the everyday practices and customs that guide social behavior in a society.

Laws

Established rules of conduct enforced by governmental authority to maintain order and protect rights and properties.