When a Company Makes an End-Of-Period Adjusting Entry,which Includes a Debit

question 92

Multiple Choice

When a company makes an end-of-period adjusting entry,which includes a debit to Supplies Expense,the usual credit entry is made to:

• A)Accounts Payable.
• B)Supplies.
• C)Cash.

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Definitions:

Fiscal Policy

Refers to the use of government spending and taxation policies to influence the economy.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured as a percentage increase in real gross domestic product (GDP).

Monetary Policy

The management of a country's money supply and interest rates by its central bank to control inflation and stabilize the currency.

Amount Of Money

The total sum or figure represented in currency units, indicating the value or cost of an item, service, or financial obligation.