When a Business Makes an End-Of-Period Adjusting Entry with a Debit

question 17

Multiple Choice

When a business makes an end-of-period adjusting entry with a debit to supplies expense, the usual credit entry is made to:

• A) Accounts payable.
• B) Supplies.
• C) Cash.
• D) Retained earnings.

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Definitions:

Lithium Grease

A type of grease used for lubrication that is made from lithium soap, which is known for its high resistance to water and usefulness across a wide temperature range.

Service Life

The period during which a device, system, or component is expected to perform effectively and efficiently before requiring replacement or repair.

Snubber

A device that damps movement. Some fifth wheels are equipped with rubber block snubbers to damp trailer bump and pintle hook assemblies can be equipped with pneumatic (on-highway) or hydraulic (off-highway) snubbers.

Pintle Hook Assembly

A type of towing hitch system that uses a pintle hook and lunette ring, commonly used for heavy or military trailers.