A Business Purchases Equipment by Paying $6,081 in Cash and Issuing

question 73

Multiple Choice

A business purchases equipment by paying $6,081 in cash and issuing a note payable of $12,291.Which of the following occurs?

• A)Cash is credited for $6,081,Equipment is credited for $18,372,and Notes Payable is debited for $12,291.
• B)Cash is credited for $6,081,Equipment is debited for $18,372,and Notes Payable is credited for $12,291.
• C)Cash is debited for $6,081,Equipment is debited for $12,291,and Notes Payable is credited for $18,372.
• D)Cash is debited for $6,081,Equipment is credited for $12,291,and Notes Payable is debited for $6,210.

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Definitions:

Socialization

The process by which individuals learn and adopt the norms, values, behaviors, and social skills appropriate to their society or social group.

Role Management

The process of effectively understanding and balancing the multiple roles an individual may have within different contexts.

Organizational Socialization

The method by which new staff members acquire the necessary attitudes, knowledge, skills, and behaviors to operate successfully in a company.

Adjustment Process

A method or series of actions taken to adapt or conform to new conditions or changes.