Which of the Following Statements Is Not Correct

question 38

Multiple Choice

Which of the following statements is not correct?

• A) Cash purchases of merchandise are not recorded in the purchases journal.
• B) A credit purchase of equipment for use in the business would be recorded in the purchases journal.
• C) The Purchases account has a normal debit balance.
• D) The invoice date and credit terms must be carefully recorded in the purchases journal because they determine when payment is due.

---

Definitions:

Losing a Job

The process or experience of being terminated or laid off from employment, often leading to a period of unemployment and requiring job search activities.

Closed Adoptions

A type of adoption where there is no exchange of information or contact between the biological and adoptive families.

Bodily Rhythms

The natural cycles and patterns in physical processes and functions within the body, such as the circadian rhythm.

Social Mobility

The movement of individuals, families, or groups through a system of social hierarchy or stratification.