Which of the Following Would Be Included in the Journal

question 258

Multiple Choice

Which of the following would be included in the journal to record an NSF check?

• A) a debit to Accounts Payable and a credit to Cash
• B) a debit to Accounts Receivable and a credit to Cash
• C) a debit to Cash and a credit to Accounts Receivable
• D) a debit to Bank Expense and a credit to Cash

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Definitions:

Income Responsiveness

The degree to which demand for a product or service changes in response to changes in consumer income.

Income Elasticity of Demand

A metric that gauges the sensitivity of demand for a product to shifts in the income of consumers.

Weekly Income

The total amount of earnings received by an individual or entity over the span of a week.

Bars of Chocolate

Solid blocks of chocolate that can vary in cocoa content, sweetness, and added ingredients, enjoyed as confectionary treats.