When a Business Sells Inventory in Exchange for Cash,which of the Following

question 143

Multiple Choice

When a business sells inventory in exchange for cash,which of the following accounts is credited?

• A) Revenue
• B) Cash
• C) Owners' Equity
• D) Accounts Payable

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Definitions:

Test Scores

Quantitative measurements that represent a person's level of achievement or proficiency in a given subject or skill.

Precipitation

Any form of water, liquid or solid, that falls from the atmosphere and reaches the ground.

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Urban areas within the country of Canada, known for diverse cultures, climates, and landscapes.

Lower Quartile

The lower quartile, also known as the first quartile, is the value that cuts off the first 25% of the data when it is sorted in ascending order, indicating the middle number between the smallest value and the median of the dataset.