A Company Using the Perpetual Inventory System Purchased Inventory Worth

question 187

Multiple Choice

A company using the perpetual inventory system purchased inventory worth $21,000 on account with terms of 3/10,n/30.Defective inventory of $1,000 was returned two days later,and the accounts were appropriately adjusted.If the invoice is paid within 10 days,the amount of the purchase discount that would be available to the company is ________.

• A)$600
• B)$660
• C)$630
• D)$620

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Definitions:

Null Hypothesis

This hypothesis posits that there is no effect or no significant difference between specified populations.

Directional

Pertaining to a hypothesis or research that specifies the expected direction of the relationship between variables.

Non-directional

Pertains to hypothesis tests that do not specify a direction of difference or relationship, thus considering both possible outcomes.

Alternative Hypothesis

A statistical hypothesis that proposes a difference or effect, in contrast to the null hypothesis.