A Debit Memorandum Decreases Which Account on the Buyer's Books

question 83

Multiple Choice

A debit memorandum decreases which account on the buyer's books?

• A) Accounts Payable
• B) Sales
• C) Sales Discount
• D) Accounts Receivable

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Definitions:

Patent

A legal right granted to an inventor or assignee to exclusively make, use, or sell an invention for a certain number of years.

Fixed Cost

Expenses that do not change in total despite fluctuations in the volume of goods or services produced or sold.

Patent

A legal document granted by the government, giving an inventor exclusive rights to make, use, and sell an invention for a certain number of years.

Demand Function

A mathematical function that describes the quantity of a good that consumers are willing and able to purchase at various prices.