The Journal Entry Needed to Record the Receipt of a Factory

question 78

Multiple Choice

The journal entry needed to record the receipt of a factory utility bill would include a

• A)credit to manufacturing overhead.
• B)debit to manufacturing overhead.
• C)debit to accounts payable.
• D)debit to utilities payable.

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Definitions:

Groupthink

A psychological phenomenon that occurs within a group of people, where the desire for harmony in the group results in an irrational or dysfunctional decision-making outcome.

Devil's Advocate

A person who takes a position they do not necessarily agree with for the sake of argument to explore and critically discuss a particular issue.

Group Leader

A person who takes charge in guiding, directing, and managing a team or group towards achieving collective goals and objectives.

Organizations

Entities comprising multiple individuals working together towards a common goal, structured and managed to meet a need or pursue collective goals.