If the Owner of Que Legal Services Forgot to Deduct

question 59

Multiple Choice

If the owner of Que Legal Services forgot to deduct a withdrawal from the balance per books,what entry would be necessary?

• A)Debit Cash; credit Withdrawals
• B)Debit Withdrawals; credit Cash
• C)Debit Revenue; credit Cash
• D)Debit cash; credit Revenue

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Definitions:

Wal-Mart

A multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, known for its large-scale operations and economic impact.

Exxon

An American multinational oil and gas corporation, one of the world's largest publicly traded energy providers.

Dependency Theory

An economic theory suggesting that developing nations are dependent on developed nations and this dependency inhibits their growth and development.

Conflict Theory

A sociological perspective that views social life as a competition, and focuses on the distribution of resources, power, and inequality as causes of conflict and social change.