_______________________________________are purchases on account from vendors.
A)Transfer transactions.
B)Accounts receivable transactions.
C)Accounts payable transactions.
D)Chart of accounts transactions.
E)None.

Question

Quizplus · Accepted Answer

Purchases on account from vendors create a liability for the business, which is recorded as an accounts payable transaction. Transfer transactions involve moving funds between accounts within the same entity, accounts receivable transactions involve sales made on credit to customers, and chart of accounts transactions involve updates or changes to the organization's accounting system. Therefore, the correct answer is accounts payable transactions (C).

_______________________________________Are Purchases on Account from Vendors