Under a Perpetual Inventory System Acquisition of Merchandise for Resale

question 110

Multiple Choice

Under a perpetual inventory system acquisition of merchandise for resale is debited to the

• A) Inventory account.
• B) Purchases account.
• C) Supplies account.
• D) Cost of Goods Sold account.

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Definitions:

Select Query

In Structured Query Language, displays a subset of data from a table (or tables) based on the criteria specified.

Criteria Query

A method of querying in a database or a data technology platform that uses specific criteria to filter or select data.

Related Records

Database records that are connected or associated with one another through a common field or relation.

Table

In computer programming and database management, a structured arrangement of data made up of rows and columns, used to organize and display information systematically.