A Buyer Would Record a Payment Within the Discount Period

question 183

Multiple Choice

A buyer would record a payment within the discount period under a perpetual inventory system by crediting

• A) Accounts Payable.
• B) Merchandise Inventory.
• C) Purchase Discounts.
• D) Sales Discounts.

---

Definitions:

Trucking Co.

A company engaged in the business of transporting goods and materials over land, typically using large vehicles like trucks.

Strict Liability

Strict liability is a legal doctrine that holds a party responsible for their actions or products without the plaintiff having to prove negligence or fault.

Dog Attacks

Incidents where a dog aggressively harms a human or another animal, leading to potential liability issues for the dog's owner.