Which of the Following Transactions Does Not Affect Gross Profit

question 129

Multiple Choice

Which of the following transactions does not affect gross profit?

• A)A customer returning merchandise that was sold for a profit.
• B)The collection of cash on an account receivable,which was paid for by the customer within the discount period.
• C)The journal entry to record bad debt expense.
• D)Accepting a credit card for a sale and paying a service fee to the credit card company.

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Definitions:

Behavioral Perspective

An approach in psychology focusing on observable behaviors and the ways in which learning occurs through interactions with the environment.

Humanistic Potential

The inherent capacity for personal growth and achieving self-fulfillment, often emphasized in humanistic psychology.

Social-cognitive

Pertaining to the understanding of social interactions and the processing of social information through learning, observation, and cognition.

Cognitive Ability

The capacity to perform higher mental processes of reasoning, remembering, understanding, and problem solving.