Accounting Transaction Analysis Quiz

After the liability is recorded

After paying on account

Once the goods have been received

On the order date (correct)

Debit accounts payable after paying on account

Debit accounts payable on the order date (correct)

Wait until supplies inventory are received to debit accounts payable

Do not debit accounts payable

To comply with accounting principles (correct)

To delay recognizing liabilities

To improve cash flow

To match expenses with revenue