The Entry to Adjust for the Cost of Supplies Used

question 10

Multiple Choice

The entry to adjust for the cost of supplies used during the accounting period is

• A) debit Supplies Expense; credit Supplies
• B) debit Owner Capital; credit Supplies
• C) debit Accounts Payable; credit Supplies
• D) debit Supplies; credit Owner Capital

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Definitions:

Power Distance

A cultural dimension that reflects the degree to which less powerful members of a society accept and expect that power is distributed unequally.

Individualism

A social theory favoring freedom of action for individuals over collective or state control.

Uncertainty Avoidance

A cultural dimension that describes the extent to which people in a society are uncomfortable with uncertainty and ambiguity.

X-Games

An annual extreme sports event hosted, produced, and broadcast by ESPN, featuring competitions in skateboarding, BMX, motocross, snowboarding, and more.