Under a Perpetual Inventory System, Which Accounts Would Be Closed

question 162

Multiple Choice

Under a perpetual inventory system, which accounts would be closed to Income Summary with credits?

• A)Sales Returns and Allowances, Sales Revenue, and Inventory
• B)Sales Discounts, Sales Returns and Allowances, and Cost of Goods Sold
• C)Sales Revenue and Cost of Goods Sold
• D)Sales Returns and Allowances and Sales Revenue

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Definitions:

Health-Promoting Behaviors

Actions taken by individuals to maintain or improve their health and prevent disease.

Symptom Management

The practice of alleviating or managing the symptoms of a disease without necessarily addressing the underlying cause.

Surgery

A branch of medicine that treats injuries or disorders by operative or manual methods to physically change body tissues.

Outlet Covers

Protective devices designed to cover electrical outlets to prevent accidental contact with electrical connectors.