The following list of events occurred in the first month of business at a local auto parts supplier. Indicate which of the events are accounting events and provide a short justification for your answer.
A. The owner purchases supplies (paper, pens, etc.) on an open account.
B. The manager hires a receptionist and several salespeople. The receptionist will be paid on an hourly basis. Each salesperson will receive a commission and salary.
C. A. customer pays for a part that she just received.
D. The customer orders a part that was not in stock.
E. The owner contacts a supplier to be the exclusive provider of auto parts for the store.
F. All employees have worked for two weeks. Employees are paid on a monthly basis.
G. The owner finds out that a competitor across the street is offering 20 percent off on all parts for the following week.

  • CreatedMarch 25, 2015
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