If a Company Buys Inventory on Account

question 33

Multiple Choice

If a company buys inventory on account:

• A)cash decreases.
• B)accounts payable increases.
• C)net income increases.
• D)total assets remain the same.

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Definitions:

Oedipus Complex

A psychological theory by Sigmund Freud that describes a child's feelings of desire for the opposite-sex parent and jealousy toward the same-sex parent.

Psychosexual Stage

Stages proposed by Freud detailing the sexual development and maturation process from childhood through adulthood.

Opposite-Sex Parent

A child's parent of the gender different from their own, often discussed in the context of developmental psychology.

Identifying

The process of recognizing and naming someone or something.