Part A. Which of the following is a constraint in accounting? A. Consistency B. Cost C. Comparability D. Relevance

Part B. The liability created by a business when it purchases coffee beans and coffee cups on credit from suppliers is termed a(n) A. account payable. B. account receivable. C. revenue. D. expense.

Part C. To show how successfully your business performed during a period of time, you would report its revenues and expenses in the A. balance sheet. B. statement of cash flows. C. income statement. D. retained earnings statement.

Part D. The collection of a $2900 account beyond the 2 percent discount period will result in a A. debit to Sales Discounts for $58. B. debit to Cash for $2842. C. debit to Accounts Receivable for $2900. D. debit to Cash for $2900.

Part E. The collection of a $2900 account beyond the 2 percent discount period will result in a A. debit to Sales Discounts for $58. B. debit to Cash for $2842. C. debit to Accounts Receivable for $2900. D. debit to Cash for $2900.