When She Is Asked What She Should Do When a Friend

question 65

Multiple Choice

When she is asked what she should do when a friend does a favor for her, Marnie says, "I usually don't let anyone do favors for me. I don't like the idea that I would owe them something." Marine would describe people who do favors for her as

• A) reciprocators.
• B) creditors.
• C) assessors.
• D) debtors.

Identify and define key terminology and concepts in inventory management and accounting.

Recognize the costs included in merchandise inventory.

Understand the process and implications of journalizing sales and purchase transactions, including sales tax and service charge considerations.

Analyze the effects of sale discounts, returns, and payment terms on journal entries.