Which of the Following Statements Is Correct

question 46

Multiple Choice

Which of the following statements is correct?

• A) Freight In is subtracted from Purchases to arrive at delivered cost of purchases.
• B) Another name that may be used for the Freight In account is "Transportation In."
• C) Freight charges that are listed on the invoice received from a supplier are not part of the total credit to Accounts Payable to record the credit purchase.
• D) The Freight In account is subtracted from Sales to get Net Sales.

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Definitions:

South

A term that typically refers to the southeastern and south-central regions of the United States, often characterized by its distinct cultural, historical, and economic traits.

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Farmers who rent land to grow crops, rather than owning the land themselves.

Individual's Freedom

The rights and liberties that allow an individual to act, speak, think, and pursue happiness without undue interference or restriction from others or the government.

Attack On Fort Sumter

The bombardment and surrender of Fort Sumter in Charleston Harbor on April 12, 1861, marking the beginning of the American Civil War.