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:

Impulse Frequency Theory

A theory that proposes the frequency of nerve impulses, or action potentials, is related to the intensity of a sensation such as sound or light.

Timbre

The quality of a sound apart from its pitch or loudness; timbre enables us to distinguish a clarinet from an oboe, or one person’s voice from another.

Sound Quality

The measure of how pleasing or accurate an audio output is from any given source.

Pitch

The quality of a sound governed by the rate of vibrations producing it; the degree of highness or lowness of a tone.