When Using the Five-Step Model, the Entry to Record the Return

question 114

Multiple Choice

When using the five-step model, the entry to record the return of goods from a customer would include a

• A)debit to Sales.
• B)credit to Sales.
• C)debit to Refund Liability.
• D)credit to Refund Liability..

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Definitions:

Dispositions

Inherent qualities of mind and character that influence an individual's habitual responses and behavior.

Behavioral Perspective

An approach in psychology that focuses on observable behaviors and the ways in which they are learned, often through conditioning.

Reinforced

Strengthened or encouraged to persist, often through rewards or consequences in the context of behavior conditioning.

Fundamental Attribution Error

The tendency to underestimate situational influences and overestimate personal character traits when evaluating the behaviors of others.