A Business Purchases Equipment for $8,000 Cash

question 37

Multiple Choice

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

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

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Definitions:

Inference Rules

Set guidelines or principles used to deduce new information or conclusions from known facts or premises.

Mental Graph

Mental Graph is a conceptual representation of information in the form of a graph structure in one's mind, used to illustrate relationships between concepts or data.

True Conditions

True conditions refer to circumstances or parameters that are in accordance with fact or reality.

Problem Space

The cognitive framework within which all possible actions, states, and goals are considered by an individual when solving a problem.