The Manager of Grande Home Improvements Purchased Several Cash Registers

question 63

Multiple Choice

The manager of Grande Home Improvements purchased several cash registers for the business on June 10 but does not remember whether he paid cash for the full price or still owes a balance to the vendor. Where is the best place for the manager to get the information about this transaction?

• A) A trial balance prepared at the end of June.
• B) The general journal.
• C) A balance sheet prepared at the end of June.
• D) The ledger account for equipment.

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Definitions:

Specialize

When individuals or businesses focus on producing a limited range of goods or services to increase efficiency and output quality.

Comparative Advantage

Being able to manufacture a good or provide a service with a smaller opportunity cost than that of competing individuals, companies, or nations.

Absolute Advantage

The capacity of an entity to create a product or offer a service more effectively than its rivals, utilizing fewer resources.

Absolute Advantage

A country's ability to produce a certain good more efficiently than another country can.