The Entry to Record the Purchase of a Machine on Account

question 131

Multiple Choice

The entry to record the purchase of a machine on account that costs $20,000,set-up fees,$1,000,and freight,$500,would be:

• A)debit Machinery $20,000; credit Accounts Payable $20,000.
• B)debit Machinery $21,500; credit Accounts Payable $21,500.
• C)debit Machinery $20,000,debit Expenses $1,500; and credit Accounts Payable $21,500.
• D)debit Machinery $20,500; credit Accounts Payable $20,500.

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Definitions:

Gender

A social construct that refers to roles, behaviors, activities, and attributes that a given society considers appropriate for men, women, and other gender identities.

Differential Role Expectations

The concept that different roles within a group or organization come with different sets of expectations.

Glass Ceiling

An invisible barrier that prevents certain groups, often women and minorities, from advancing to higher positions in organizations.

Performance Standards

Established requirements or criteria used to measure the quality or level of products, services, and processes.