A Company Using a Perpetual Inventory System That Returns Goods

question 211

Multiple Choice

A company using a perpetual inventory system that returns goods previously purchased on credit would

• A)debit Accounts Payable and credit Inventory.
• B)debit Sales and credit Accounts Payable.
• C)debit Cash and credit Accounts Payable.
• D)debit Accounts Payable and credit Purchases.

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Definitions:

Simple Sentences

Sentences that contain only one independent clause and express a complete thought.

Language-Acquisition Device

The language-acquisition device is a hypothetical mechanism proposed by Noam Chomsky that the human brain is equipped with, facilitating the learning of language.

Universal Grammar

A similar underlying structure shared by all the world’s languages, according to linguist Noam Chomsky.

Noam Chomsky

An influential thinker in linguistics and cognitive science, known for his theory of generative grammar and critique of behaviorism.