The journal entry to record a particular business transaction includes a credit to a liability account. This transaction is most likely also to include:
A. Issuance of new capital stock.
B. The purchase of an asset on account.
C. A cash payment.
D. A credit to Accounts Receivable.
B
Business
You might also like to view...
The _____ method is used to evaluate investments that generate both cash inflows and cash outflows
Fill in the blanks with correct word
Business
Newman Manufacturing underapplied its manufacturing overhead during 2011. Which of the following statements is true regarding the adjustment to clear out the underapplied overhead?
A) Period costs will be increased B) Cost of goods sold will be increased C) Work-in-process will be decreased D) Finished goods will be decreased
Business