Which of the Following Statements Regarding Journal Entries Under a Perpetual

question 40

Multiple Choice

Which of the following statements regarding journal entries under a perpetual inventory system is true?

• A)"Freight-out" or delivery costs associated with sales should be included in the cost of goods sold amount.
• B)When a company receives payment from a customer for a sale,cash is debited and accounts payable is credited.
• C)When a company grants an allowance to a customer,inventory is credited when using a perpetual inventory system.
• D)When a customer returns inventory,the seller debits sales returns and allowances under a perpetual inventory system.

---

Definitions:

Case Questions

Specific questions asked during case interviews that assess an individual's problem-solving skills and ability to think analytically and strategically.

Standard Interview

A traditional approach to job interviews where candidates are asked predetermined questions in a structured format.

Application Forms

Standardized forms filled out by applicants to provide personal information, qualifications, and experience for evaluation.

Recommendation Forms

Documents or templates designed to provide a structured way to recommend an individual or solution.