Which One of the Following Transactions Is Recorded with the Same

question 28

Multiple Choice

Which one of the following transactions is recorded with the same entry in a perpetual and a periodic inventory system?

• A) Cash received on account with a discount
• B) Payment of freight costs on a purchase
• C) Return of merchandise sold
• D) Sale of merchandise on credit

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Definitions:

Promise

A declaration or assurance that one will do something or that a particular thing will happen.

Obsessive-compulsive Disorder

A mental disorder characterized by recurring unwanted thoughts (obsessions) and repetitive behaviors (compulsions) that the individual feels compelled to perform.

Illness Anxiety Disorder

A chronic condition characterized by excessive worry about having or acquiring a serious illness, despite medical reassurance.

Dissociative Identity Disorder

A psychological disorder characterized by the presence of two or more distinct personality states that control an individual's behavior at different times.