Which of the Following Is the Correct Entry to Establish

question 145

Multiple Choice

Which of the following is the correct entry to establish a petty cash fund in the amount of $300?

• A)Cash 300 Petty Cash Fund 300
• B)Petty Cash Fund 300 Cash 300
• C)Miscellaneous Expense 300 Petty Cash Fund 300
• D)None of these, as no entry is necessary to record an exchange of cash.

---

Definitions:

Severe Depression

A term generally used to describe a period of significant and prolonged downturn in economic activity, marked by high unemployment and financial instability.

Conflict Between Capital

The inherent opposition between capitalist interests, such as profit maximization by business owners, and the labor force seeking better wages and working conditions.

Labor

The body of workforces engaged in physical or intellectual tasks to produce goods or services.

Social Gospel

Ideals preached by liberal Protestant clergymen in the late nineteenth and early twentieth centuries; advocated the application of Christian principles to social problems generated by industrialization.