The Delivery Company Has Placed an Order for $2,000 of Supplies

question 51

Multiple Choice

The Delivery Company has placed an order for $2,000 of supplies and intends to pay on account once the goods have been received.Transaction analysis requires the accounting clerk to,

• A)record supplies as an asset on the order date,but wait to record the liability until supplies are received.
• B)record supplies as an asset and credit accounts payable on the order date.
• C)record supplies as an asset and debit accounts payable on the order date.
• D)do nothing.

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Definitions:

Larger Companies

Corporations or businesses that have a significant scope in terms of operations, revenue, or number of employees, typically having a broad influence in their respective industries.

Alternative Media Outlets

Media sources that provide information outside of mainstream or conventional channels, often focusing on perspectives or topics not covered by major outlets.

Mainstream Media

Media outlets and platforms that reach the largest audience and are typically regarded as conventional or traditional sources of news and entertainment.

Homogenous Media Products

Media content that lacks diversity and variation, often resulting from dominant cultural or industry norms dictating production values and themes.