When entering vendor receipts for items on a Purchase Order, one of the accounts affected when posting the transaction is the:

A) accounts payable account.
B) inventory account.
C) accounts receivable account.
D) sales account.

Answer: A

Business

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A firm is offered credit terms of 2/10 net 45 by most of its suppliers but frequently does not have the cash available to take the discount. The firm has a credit line available at a local bank at an interest rate of 12 percent

The firm should ________. A) give up the cash discount, financing the purchase with the line of credit B) take the cash discount and pay on the 45th day after the date of sale C) take the cash discount and pay on the first day of the cash discount period D) take the cash discount, financing the purchase with the line of credit, the cheaper source of funds

Business

In the following Perl statement, the ^ character is used _________. $search =~ /^Test/

a) as a wild card character b) to denote that the character immediately following the ^ is to be matched c) to match the beginning of a line d) to match each string with the word "Test"

Business