Junction Plants Had the Following Transactions During August

question 66

Multiple Choice

Junction Plants had the following transactions during August. Which transaction represents an expense for August under the accrual basis of accounting?

• A) Used $90 worth of office telephone calls. The account will be paid during September.
• B) Paid $3300 in settlement of a loan obtained three months earlier.
• C) Paid a plumber $500 for repair work performed in July.
• D) Purchased a computer for $3000 cash.

Recognize the limitations and broad scope of language.

Identify the role of truthfulness and deception in communication.

Analyze the causes of miscommunication beyond content.

Acknowledge the importance of definitions and the use of emotive words.

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Definitions:

Payments Received

Transactions or transfers of money that one receives, typically in exchange for goods, services, or to satisfy debts.

Hardship Case

An instance or situation in which an individual or group faces significant adversity or difficulty, often used in legal, financial, or medical contexts to denote special circumstances that require consideration.

Medicaid

A federally funded health cost–assistance program for low-income, blind, and disabled patients; families receiving aid to dependent children; foster children; and children with birth defects.

County Assistance

Programs and services provided by a county government to support its residents, especially in health, financial, or emergency situations.