A Business Purchases Equipment with $8,000 Cash

question 195

Multiple Choice

A business purchases equipment with $8,000 cash.Which of the following accounts is credited?

• A) Cash
• B) Accounts Payable
• C) Smith, Capital
• D) Equipment

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Definitions:

Updating QBO Lists

The process of revising or adding new information to lists within QuickBooks Online, such as customer or vendor lists.

Navigation Bar

A user interface element within a webpage that contains links to other sections of the website for easy access and navigation.

Chart Of Accounts

A systematic listing of all accounts used by an organization, categorized to simplify the recording of financial transactions.

Disorganization

Disorganization refers to a lack of structure or order, leading to inefficiency and difficulty in finding or placing things.