The Merchandise Inventory Account Is Used in Each of the Following

question 40

Multiple Choice

The Merchandise Inventory account is used in each of the following except the entry to record

• A) goods purchased on account.
• B) the return of goods purchased.
• C) payment of freight on goods sold.
• D) payment within the discount period.

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Definitions:

Cardiac Muscle Fiber

A type of involuntary striated muscle found in the walls of the heart, enabling it to contract and pump blood throughout the body.

Striation

A series of ridges, furrows or linear marks, often found in muscle tissues or rocks.

Ligamentum Arteriosum

A small ligament that is a remnant of the ductus arteriosus, connecting the pulmonary artery to the descending aorta in the fetal circulation system.

Fossa Ovalis

The fossa ovalis is an anatomical feature of the heart, a depression in the right atrium wall, marking the spot where an opening, the foramen ovale, existed in the fetal heart.