If the Perpetual Inventory System Is Used to Record the Purchase

question 56

Multiple Choice

If the perpetual inventory system is used to record the purchase and sale of goods,the account used to record shipping charges is the

• A) purchases account.
• B) merchandise inventory account.
• C) transportation in account.
• D) freight in account.

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Definitions:

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A South Asian country characterized by its diverse cultures, languages, religions, and historical richness, being the second-most populous country worldwide.

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The way in which a group's culture—including skills, knowledge, norms, values—is passed down from one generation to the next.

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