Question: The debt created by a business when it makes a purchase on account is called ana. account payable b . expense payable c . account

The debt created by a business when it makes a purchase on account is called ana. account payable b. expense payable c. account receivable d. asset

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

The debt created by a business when it makes a purchase on account is called an The debt created by a business when it makes a purchase on account is called an asset account receivable expense...

Q:

Print Item Question Content Area The debt created by a business when it makes a purchase on account is called an a . account receivable b . account payable c . asset d . expense payable

Q:

Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for...

Q:

125(1) Q1. Given the following list of accounts, calculate Total Assets: Accounts Receivable 5,000 Capital Stock 20,000 Cash 19,300 Equipment 15,400 Fees Earned 44,400 Miscellaneous Expense 18,200...

Q:

Q1. Over 90% of the total dollars of business receipts are received by proprietorships. a. true b. false Q2. Assets are acquired through investing activities when resources are purchased. a. true b....

Q:

Q1. Over 90% of the total dollars of business receipts are received by proprietorships. a. true b. false Q2. Assets are acquired through investing activities when resources are purchased. a. true b....

Q:

Here are some questions that I need help with can you please answer them and explain. 1.) What is the primary objective of most businesses? a. To maximize profits b. To pay dividends to stockholders...

Q:

8. The journal entry to issue 1,000,000 shares of $5 par common stock for $6.75 per share on January 2nd would be: a. Jan 2 Cash 6,750,000 Common Stock Paid-In Capital in Excess of Par- 5,000,000...

Q:

Which of the following is not an asset? Question 2Answer a. Inventory b. Stockholders' Equity c. Cash d. InvestmentsThe debt created by a business when it makes a purchase on account is referred to...

Q:

When replenishing the petty cash fund you would: Debit cash and credit the related expense accounts Debit cash and credit petty cash credit cash and debit related costs credit cash and debit petty...

Q:

Assume that I have the following series of returns, stated as decimals. Month Return 1 0.036 2 0.006 3 0 4 -0.025 What is the mean return of this series? Round the answer to three decimal places.

Q:

If u = u(y-x/xy, z-x/xz), show that x^2 du/dy + y^2 du/dy + z^2 du /dz = 0

Q:

calculate NPV for this project with discount rate of 10%: \f

Q:

How many moles of sodium chloride (NaCl) are in (4.21x10^-41) molecules of sodium chloride (NaCl)? Question Information For Avogadro's number use: 6.022 x 10 23 Round your answer to three significant...

Q:

million people in the US who went without health insurance for the entire year.

Q:

Suppose that a state grants Medicaid benefits to a worker only if his income is between $5,000 and $10,000 a year. This will not result in a work disincentive because those who are not working at all...

Q:

The imposition of federally mandated maternity benefits had no effect on the mean wages of female workers.