If a Purchaser Returns Goods Purchased on Account to the Supplier

question 153

Multiple Choice

If a purchaser returns goods purchased on account to the supplier under a perpetual inventory system, the purchaser would debit:

• A)Inventory and credit Accounts Payable.
• B)Accounts Payable and credit Inventory.
• C)Inventory and credit Accounts Receivable.
• D)Accounts Receivable and credit Inventory.

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Definitions:

Baptistery

A part of a church or a separate building used for the Christian rite of baptism.

Trefoil Arches

Arches with a three-lobed or clover-shaped top, commonly found in Gothic and Islamic architecture.

Three-dimensional Body

An object that has height, width, and depth, enabling it to occupy physical space and be perceived from different angles.

Illusion

A perceptual phenomenon where the reality differs from the perception, often used in art to create depth or three-dimensional effects on two-dimensional surfaces.