Under the U

question 20

Multiple Choice

Under the U.S.system of government, the judiciary has the power

• A)to make laws.
• B)to enforce laws.
• C)to interpret laws.
• D)Both a and c.

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Definitions:

Purchases

The total amount spent on goods and materials bought for resale or use in production during an accounting period.

Perpetual

A system of inventory management where records are updated immediately following a sale or purchase of goods.

Merchandise Inventory

The total value of a business's commodities or goods available for sale to customers at any given time.

Accounts Payable

The amount owed by a business to its suppliers or creditors for goods and services received but not yet paid for.