The Beehive Company Acquired Merchandise Inventory Costing $10,000 on September

question 65

Multiple Choice

The Beehive Company acquired merchandise inventory costing $10,000 on September 1. The company will not pay for the inventory until October 1. This transaction will affect the Beehive Company by:

• A) increasing the Merchandise Inventory account by $10,000 and decreasing the Capital account by $10,000
• B) increasing the Merchandise Inventory account by $10,000 and decreasing the Accounts Payable account by $10,000
• C) increasing the Merchandise Inventory account by $10,000 and increasing the Capital account by $10,000
• D) increasing the Merchandise Inventory account by $10,000 and increasing the Accounts Payable account by $10,000

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Definitions:

Proslavery Defenses

Arguments or justifications used to support the institution of slavery.

Necessary Evil

A term used to describe something undesirable but considered unavoidable for achieving a better outcome.

Nineteenth Century

The period from January 1, 1801, to December 31, 1900, characterized by significant industrial, cultural, and political changes worldwide.

Elijah Lovejoy

An American Presbyterian minister, journalist, and news editor who was an abolitionist and died protecting his press from a pro-slavery mob.