A Journal Entry to Recognize an Expense Could Include Each

question 78

Multiple Choice

A journal entry to recognize an expense could include each of the following,except:

• A)A debit to an expense account.
• B)A credit to Accounts Payable.
• C)A debit to a liability account.
• D)A credit to Cash.

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Definitions:

Culture of Poverty

A theory suggesting that poverty creates a distinct set of values, behaviors, and attitudes that perpetuate poverty across generations.

Explanation

The process of making something clear or easy to understand by describing or giving information about it.

Urban Underclass

A segment of the population that lives in urban areas and is characterized by high levels of unemployment, poverty, and social disadvantages.

Lower Class

A socioeconomic group that faces economic disadvantage, often with limited access to wealth, education, and job opportunities.