Checks__________ Money and Credit Cards _____________Money

question 487

Multiple Choice

Checks__________ money and credit cards _____________money.

• A) are not; are
• B) are; are
• C) are; are not
• D) are not; are not

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Definitions:

Credit Sales

Sales made by a business where payment is allowed to be deferred until a later date.

Perpetual Inventory System

An inventory management method where updates are made continuously to record sales and purchases instantly.

Merchandise Inventory Account

An account on the balance sheet that represents the cost of goods available for sale, including items purchased for resale.

Inventory Shrinkage

This refers to the loss of products between procurement and sale, often due to theft, damage, or errors.