Which Account Is Least Likely to Be Credited When an Expense

question 4

Multiple Choice

Which account is least likely to be credited when an expense is recorded?

• A)Cash.
• B)Accounts Payable.
• C)Prepaid Expenses.
• D)Accounts Receivable.

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Definitions:

Foreign Exchange Rate

The price at which one currency can be exchanged for another currency in the foreign exchange market.

World Market

The global marketplace where goods, services, and financial products are bought and sold across borders.

Trade Balance

The difference between a country's exports and imports of goods and services over a certain period.

Merchandise Exports

Goods produced in one country and sold to buyers in another country, contributing to international trade.