Which of the Following Entries Would Record the Payment of a Utility

question 12

Multiple Choice

Which of the following entries would record the payment of a utility bill?

• A) Utilities Expense, debit; Cash, credit
• B) Cash, debit; Utilities Expense, credit
• C) Utilities Expense, debit; Accounts Payable, credit
• D) Accounts Receivable, debit; Utilities Expense, credit

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Definitions:

Safety Regulations

Rules and standards established to ensure the protection and welfare of the public by minimizing risks and hazards.

Tariff

A tax imposed by a government on imports or exports of goods to regulate trade and protect domestic industries.

Imported Oil

Oil that is brought into a country from another for use or sale.

Quantity Demanded

The total amount of a good that consumers are willing and able to purchase at a given price, holding all other factors constant.