The Debit Recorded in the Journal to Reimburse the Petty

question 133

Multiple Choice

The debit recorded in the journal to reimburse the petty cash fund is to

• A) Petty Cash
• B) Accounts Receivable
• C) Cash
• D) various accounts for which the petty cash was disbursed

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Definitions:

Business Combination

The merger or acquisition of separate companies into a single enterprise, often to expand market share or leverage synergies.

Lease

A lease is a contractual agreement by which one party conveys property, land, services, or the use of assets to another for a specified time, often in return for a periodic payment.

Corporation's Assets

Corporation's Assets are the resources owned by a corporation, including cash, properties, and intellectual property, among others.

Dissenting Shareholders

Shareholders who disagree with certain corporate actions, such as mergers or acquisitions, and are legally entitled to certain rights, like receiving payment for their shares.