Which of the Following Transactions Will Cause a Liability to Be

question 81

Multiple Choice

Which of the following transactions will cause a liability to be credited and a cost account to be debited when the periodic inventory system is in use?

• A)Recorded the adjustment for depreciation
• B)Recorded the adjustment for the consumption of supplies
• C)Purchased merchandise inventory on account
• D)Purchased office supplies on account

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Definitions:

Regression Analyses

Statistical methods used to estimate the relationships among variables, often used to predict a key variable based on others.

Forecasting

The practice of predicting future trends, demands, or events based on historical data and analysis.

Predicting

The process of forecasting future events, outcomes, or trends based on current or historical data, using various statistical, mathematical, or computational techniques.

Future

A period of time that has not yet happened but is considered in terms of potential events or developments.