Which of the Following Are Debit Columns in a Typical

question 29

Multiple Choice

Which of the following are debit columns in a typical cash payments journal?

• A)Merchandise Inventory column and Cash column
• B)Other Accounts column and Accounts Payable column
• C)Merchandise Inventory column and Accounts Payable column
• D)Other Accounts column and Cash column

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Definitions:

Advertising

The act or practice of calling public attention to one's product, service, need, etc., especially by paid announcements in various media.

Corporate Citizenship

The social responsibility of a company to its environment and community, involving efforts to contribute positively to societal goals.

Profits

The financial gain obtained when revenues generated from business activities exceed the expenses, costs, and taxes associated with sustaining the business.

Dividends

Payments made by a corporation to its shareholders from its profits.