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:

Emotions

Complex psychological states involving an individual's subjective experience, physiological response, and behavioral or expressive reaction.

Intense

Characterized by a high degree of emotional, physical, or mental effort or concentration.

Event

An occurrence or happening, especially one of significance, that can be planned or unplanned.

Equity Theory

A theory in social psychology that suggests individuals evaluate their relationships based on the balance or fairness of what they give and receive.