In a Periodic Inventory System, When a Company Returns Merchandise

question 83

Multiple Choice

In a periodic inventory system, when a company returns merchandise previously purchased on account, the entry to record the return would include a:

• A)debit to Inventory.
• B)credit to Purchase Returns and Allowances.
• C)debit to Sales Returns and Allowances.
• D)credit to Accounts Payable.

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Definitions:

Intrinsic Rewards

The internal or personal satisfaction derived from accomplishments, learning, or other aspects of work, not tied to external rewards like pay.

Self-actualization

Self-actualization is the realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

External Rewards

Benefits or incentives provided by external sources, such as money, praise, or recognition, to motivate behavior.

Self-determination

The concept of individuals having the freedom and ability to make choices and control their own lives.