If Telephone Expenses for the Year Are $7900, Made Up

question 22

Multiple Choice

If telephone expenses for the year are $7900, made up of cash payments of $7400 and accrued telephone expense of $500 what is the amount of telephone expense that is closed to the profit and loss summary account?

• A) Nil
• B) $500
• C) $7900
• D) $8400

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Definitions:

Biological Causes

Factors related to biological systems, such as genetics, brain structures, and chemical imbalances, that can influence behavior and mental states.

Generalized Anxiety Disorder

A psychological condition characterized by persistent and excessive worry about various aspects of life.

Posttraumatic Stress Disorder

A psychiatric disorder that can occur in individuals who have witnessed or experienced a traumatic event, characterized by symptoms such as flashbacks, nightmares, severe anxiety, and uncontrollable thoughts about the event.

Sleep Deprived

A condition resulting from not getting enough sleep, which can affect cognitive functions, mood, and overall health.