Firms Using the Periodic Inventory System Record Purchases of Inventory

question 14

Multiple Choice

Firms using the periodic inventory system record purchases of inventory with a ________.

• A) credit to Purchases
• B) debit to Purchases
• C) debit to Inventory
• D) credit to Inventory

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Definitions:

Classical Conditioning

A training approach characterized by making associations between a stimulus in the environment and one that occurs naturally, causing a conditioned behavior.

Social Setting

The physical and social context in which people live or in which something happens or develops.

Negative Punishment

A behavior modification technique involving the removal of a desirable stimulus following an undesired behavior to decrease the likelihood of the behavior’s occurrence.

Positive Punishment

Adding an unpleasant stimulus to decrease a behavior, part of operant conditioning in psychology.