Stewart Candle Company Received a Cash Contribution of $40,000 from the Owner

question 58

Multiple Choice

Stewart Candle Company received a cash contribution of $40,000 from the owner of the business.Which of the following accounts will be debited?

• A)Accounts Receivable
• B)Cash
• C)Stewart,Capital
• D)Accounts Payable

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Definitions:

Derived Demand

Demand for a commodity, service, etc., that is a consequence of the demand for something else; for instance, the demand for steel is derived from the demand for automobiles.

Just-In-Time

An inventory strategy that aligns raw-material orders from suppliers directly with production schedules to minimize stock levels.

EOQ

Economic Order Quantity; the ideal order quantity a company should purchase to minimize its inventory costs, including holding, shortage, and order costs.

Just-In-Time

An inventory management strategy that aims to increase efficiency and reduce waste by receiving goods only as they are needed in the production process.