Carrie Flew to San Francisco on a Business Trip

question 72

Multiple Choice

Carrie flew to San Francisco on a business trip.The purchase price of the ticket was $422 and it was bought on account.The entry to record the transaction is:

• A)debit Accounts Payable,$422; credit Travel Expense,$422.
• B)debit Capital,$422; credit Accounts Payable,$422.
• C)debit Travel Expense,$422; credit Accounts Payable,$422.
• D)debit Travel Expense,$422; credit Cash,$422.

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Definitions:

Entrepreneurial Alertness

An entrepreneur's ability to notice and take advantage of new business opportunities not seen by others.

Barriers Entry

Obstacles companies must overcome to enter a particular market, which may include high startup costs, regulation, or strong competition.

Infinite Number

A quantity without end or limit, often used in mathematics to describe sizes or quantities larger than any finite number.

Investment Decisions

The process of making choices about where to allocate resources and capital to generate returns.