Which of the Following Statements Is Correct

question 50

Multiple Choice

Which of the following statements is correct?

• A) The entry to record the payment of an invoice within the cash discount period would include a debit to the Purchases Discounts account.
• B) To record a cash purchase of merchandise,the accountant would debit Purchases and credit Cash.
• C) A transaction that is properly recorded in the cash payments journal will always include the recording of an amount in the Cash Debit column.
• D) Purchase discounts is a contra revenue account.

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Definitions:

Second Only

Indicates that something is immediately after the first in position, importance, or rank, often used to denote a high level of status or quality next to the top-ranking position.

Obsessions

Persistent, intrusive, and unwanted thoughts or urges that cause distress or anxiety.

Repetitive Behaviours

Actions or rituals that are performed the same way repeatedly, often observed in various psychological conditions.

Intrusive Thoughts

Unwanted and often distressing thoughts, images, or ideas that suddenly appear in a person's mind.