At the End of the Month,employees Have Made the Following $= \$ 50$

question 155

Multiple Choice

At the end of the month,employees have made the following expenditures from the petty cash fund and with company-issued credit cards.None of these transactions has been recorded previously.Accounting for these employee purchases would include a: Supplies (pett cash) $= \$ 50$
Delivery $($ petty cash $) = \$ 75$
Advertising (credit card) $= \$ 1,100$
Equipment (credit card) $= \$ 4,200$

• A)Credit to Petty Cash for $5,425.
• B)Credit to Accounts Payable for $5,300.
• C)Credit to Equipment for $4,200.

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Definitions:

Pure Competition

A market structure characterized by a large number of small firms, homogenous products, and free entry and exit, leading to perfect competition.

Nonprice Competition

A strategy where businesses focus on improving product quality, promoting innovation, or providing exceptional service instead of lowering prices to compete.

Differentiated Products

Goods or services that are distinguished from similar products by quality, features, branding, or customer service, allowing them to compete apart from price alone.

Entry Barriers

Obstacles that prevent new competitors from easily entering an industry or area of business.