A Business Purchases $500 of Office Supplies on Account

question 157

Multiple Choice

A business purchases $500 of office supplies on account.Which of the following accounts is credited?

• A)Cash
• B)Accounts Payable
• C)Office Supplies
• D)Service Revenue

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Definitions:

Policy Experiments

Trials or pilot programs undertaken by governments, organizations, or researchers to test new ideas, policies, or interventions before wider implementation to assess their effectiveness and outcomes.

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment.

Workers' Demands

The specific conditions or changes that workers collectively ask for from their employers or governments, which can include higher wages, shorter hours, or better working conditions.

Management Decisions

Choices and determinations made by the management of an organization concerning its direction, operations, and policies.