Which One of the Following Transactions Is Recorded with the Same

question 155

Multiple Choice

Which one of the following transactions is recorded with the same entry in a perpetual and a periodic inventory system?

• A)Cash received on account with a discount
• B)Payment of freight costs on a purchase
• C)Return of merchandise sold
• D)Sale of merchandise on credit

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Definitions:

Bases

Chemical substances that can accept hydrogen ions (H+) and are characterized by a pH greater than 7 when dissolved in water.

Hydrophilic

Describing molecules or substances that have a natural affinity for water and can dissolve in or absorb water easily.

Hydrophobic

A characteristic of molecules or substances that do not readily mix with or are repelled by water, often due to nonpolar characteristics.

Water Strider

An insect that can walk on the surface of water due to the high surface tension of water and the long, water-repellent legs of the insect.