Which of the Following Entries Records the Payment of an Account

question 222

Multiple Choice

Which of the following entries records the payment of an account payable?

• A) debit Cash; credit Accounts Payable
• B) debit Accounts Receivable; credit Cash
• C) debit Cash; credit Supplies Expense
• D) debit Accounts Payable; credit Cash

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Definitions:

Span of Control

The number of subordinates a manager or supervisor can directly control. This number varies with the complexity of tasks.

Delegation

The assignment of authority and responsibility to another person to carry out specific activities while retaining the ultimate accountability for the outcome.

Low-Cost Strategy

A business approach aimed at gaining a competitive advantage by minimizing costs while maintaining acceptable quality and pricing for products or services.

Rival

A rival is a competitor or opponent who is in contention with another for the same objective or for superiority in the same field.