What Effect Does This Journal Entry Have on the Accounts

question 182

Multiple Choice

$\begin{array}{|l|l|l|l|l|l|}\hline \text { March } & 10 & \text { Accounts Payable } & & 800 & \\\hline & & \text { Cash } & & & 800 \\\hline & & \text { Paid creditors on account } & & & \\\hline & & & & & \\\hline\end{array}$ What effect does this journal entry have on the accounts?

• A) Decrease accounts payable, increase cash
• B) Increase cash, decrease accounts payable
• C) Increase accounts payable, increase cash
• D) Decrease accounts payable, decrease cash

Identify the implications of not specifying a place of delivery in a sales contract.

Comprehend the obligations of a seller under the United Nations Convention on Contracts for the International Sale of Goods.

Grasp the concept of the perfect tender rule in the context of lease and sales contracts.

Understand the requirements for a seller or lessor when goods are defective or nonconforming.

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Definitions:

Unethical Decisions

Choices that go against moral principles and guidelines.

Magnitude of Consequences

The extent or severity of the outcomes resulting from an action or event.

Moral Importance

The significance or value given to actions based on their perceived rightness or wrongness, often guiding ethical decision making.

Ethics Competency

An individual's or organization's capability to recognize ethical dilemmas, make informed ethical decisions, and act in an ethically responsible manner.