Which of the Following Would Be Included in the Entry

question 22

Multiple Choice

Which of the following would be included in the entry to record the replenishment of a petty cash fund?

• A)a credit to Petty cash
• B)a debit to Accounts Receivable
• C)a credit to Cash
• D)a credit to various expenses and assets

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Definitions:

Market Share

The percentage of total sales or revenue generated by a company within a particular market relative to its competitors.

Excise Tax

A tax levied on the production of a specific product or on the quantity of the product purchased.

Tax Revenues

The income that is gained by governments through taxation, an important source of revenue for government expenditures.

Inelastic Demand

A situation in which the demand for a product does not significantly change with a change in its price.