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

question 105

Multiple Choice

When an employer 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:

Economic Analysis

The process of examining statistics and market dynamics to understand and predict trends, assess the performance of economies, or make business decisions.

Work Ethic

A set of values centered on the importance of working hard and demonstrating diligence, reliability, and responsibility in one’s job.

Legal Immigrants

Individuals who have been granted the right to live permanently and work in a country other than their own, in accordance with that country's immigration laws.

India

A country in South Asia, known for its diverse culture, languages, geography, and as the world's largest democracy.