1- A purchase of supplies on account is recorded in the a. general journal b. ca

Question

1- A purchase of supplies on account is recorded in the

a. general journal

b. cash payments journal

c. purchases journal

d. revenue journal

2- The following is an example of

a. horizontal analysis

b. percentage analysis

c. product analysis

d. vertical analysis

3- Which of the following is not an area where the Internet is used for business purposes?

a. business cycle management

b. product life-cycle management

c. supply chain management

d. customer relationship management

Current Year Prior Year Segment Amount Percent Amount     Percent College textbooks $ 78,000 25.0% $ 55,000 18.9% High school textbooks 129,000 41.3    115,000 39.5 Elementary school textbooks   105,000   33.7      121,000   41.6 Total revenues $312,000 100.0% $291,000 100.0%

Explanation / Answer

ANSWER TO QUESTION : 1

C: PURCHASE JOURNAL

REASON : Purchase on account is purchase on credit and threfore will be recorded through Purchase Journal.

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