Asked by Shehroze Tariq on May 21, 2024

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Cash is credited when the business makes a payment for supplies.

Cash

Money in the form of currency, which includes bills and coins, used as a medium of exchange.

Supplies

Items that are consumed during the operation of a business, such as office supplies, which are essential for day-to-day activities but not directly tied to the product being sold.

  • Understand how transactions impact account balances.
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Sahil ChawlaMay 24, 2024
Final Answer :
True
Explanation :
When a business makes a payment for supplies, it is reducing its cash balance, which is recorded by crediting the cash account in accounting.