A Journal Entry Contains a Debit to an Expense Account

question 75

Multiple Choice

A journal entry contains a debit to an expense account and a credit to a payable account.This is an example of a(n) :

• A) accrued revenue
• B) accrued expense
• C) deferred revenue
• D) deferred expense

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Definitions:

Social Responsibility

The idea that businesses should balance profit-making activities with activities that benefit society; encompasses environmental stewardship, ethical labor practices, and philanthropy.

Innovation

The introduction of new ideas, products, or methods, leading to significant changes or improvements in a particular field.

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A U.S. federal agency responsible for regulating the securities industry, enforcing federal securities laws and regulating the stock and options exchanges.