menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting Study Set 7
  4. Exam
    Exam 2: Recording Business Transactions
  5. Question
    When a Business Sells Inventory in Exchange for Cash,which of the Following
Solved

When a Business Sells Inventory in Exchange for Cash,which of the Following

Question 143

Question 143

Multiple Choice

When a business sells inventory in exchange for cash,which of the following accounts is credited?


A) Revenue
B) Cash
C) Owners' Equity
D) Accounts Payable

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q80: Assets include cash,land,and accounts payable.

Q110: Moving data to the ledger is known

Q138: State the increase side (debit or credit)for

Q140: The accounting transaction to record payment of

Q141: Purchasing a three-year insurance policy for cash

Q142: Receiving a cheque from a customer on

Q145: Use T-accounts to analyze the following transactions

Q146: A trial balance is a useful device

Q147: State the decrease side (debit or credit)for

Q148: A business purchases a truck by signing

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines