The Purchase of a Building with a Cash Down Payment

question 129

Multiple Choice

The purchase of a building with a cash down payment and a written promise to pay the balance in the future would include a:

• A) credit to Cash and a credit to Note Payable
• B) debit to Cash and a credit to Buildings
• C) debit to Note Payable and a credit to Cash
• D) debit to Cash and a debit to Note Payable

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Definitions:

Direct Supervision

A management style where a supervisor closely oversees and controls the work processes and tasks of subordinates, often including immediate feedback.

Standardization of Outputs

Standardization of Outputs refers to the process of making products, services, or processes uniform or consistent across a company or industry, to ensure quality and efficiency.

Geographic Divisions

Organizational subdivisions based on geographical areas, allowing companies to address local market needs more effectively.

Organizational Members

Individuals who are part of a structured entity aimed at achieving collective goals.