Which of the Following Accounts Is Used in the Periodic

question 114

Multiple Choice

Which of the following accounts is used in the periodic inventory system but not used in the perpetual inventory system?

• A)Merchandise Inventory
• B)Sales
• C)Sales Returns and Allowances
• D)Accounts Payable
• E)Purchases

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Definitions:

Secretin

A hormone produced by the small intestine that stimulates the pancreas to release bicarbonate-rich fluids, aiding digestion.

Chyme

Thick, semiliquid food material that passes from the stomach to the small intestine.

Sodium Bicarbonate

A chemical compound commonly known as baking soda, used in baking, cleaning, and as an antacid.

Neutralization

A chemical reaction in which an acid and a base react quantitatively, producing water and a salt, effectively nullifying extreme pH levels.