Martin Supply Service Paid $350 Cash to a Materials Supplier

question 14

Multiple Choice

Martin Supply Service paid $350 cash to a materials supplier that it owed from the previous month.Which of the following accounts decreases?

• A) Accounts receivable
• B) Accounts payable
• C) Owner's capital
• D) Rent expense

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Definitions:

Ethical Standards

Principals that direct conduct in terms of right and wrong, guiding moral decision-making and actions.

Socially Responsible

A principle where individuals and organizations act in the best interests of the society by taking responsibility for the impact of their actions on the environment, consumers, employees, communities, and other stakeholders.

High-Performance

describes systems or individuals that operate exceptionally well, surpassing standard expectations.

Process Innovation

The implementation of a new or significantly improved production or delivery method. This includes significant changes in techniques, equipment, and/or software.