When Merchandise That Was Sold on Account Is Returned, Which

question 86

Multiple Choice

When merchandise that was sold on account is returned, which accounts are affected?

• A) Cash, accounts receivable, cost of goods sold, and customer refunds payable
• B) Customer refunds payable, accounts receivable, merchandise inventory, and estimated returns inventory
• C) Customer refunds payable, accounts receivable, purchases, and estimated returns inventory
• D) Customer refunds payable, accounts receivable, purchases, and merchandise inventory

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Definitions:

Visible Minorities

A term used in some countries to refer to individuals who are non-Caucasian in race or non-white in color, often for purposes of monitoring and promoting diversity.

Core Dimensions

Fundamental aspects or factors that are central to a concept or model, often used to describe the primary attributes of a job or personality.

Diversity

The representation and inclusion of individuals from various backgrounds, beliefs, and cultures within a community or organization.

Employee Values

The set of values or principles that are important to employees and guide their behavior in the workplace.