On April 6,Lopez Co

question 81

Multiple Choice

On April 6,Lopez Co.purchased $5,000 of inventory,terms 1/15,n/30.Lopez Co.uses a perpetual inventory system.The company paid for the purchase on April 26.The entry to record the payment on April 26 includes which of the following?

• A) A credit to Inventory for $50
• B) A debit to Accounts Payable for $4,900
• C) A credit to Accounts Payable for $5,000
• D) A credit to Cash for $5,000

Identify the characteristics and penalties associated with white-collar crimes and cybercrimes.

Recognize the constitutional protections afforded to individuals under the United States Constitution, particularly amendments that impact criminal cases.

Understand the role and implications of corporate liability in criminal acts committed by employees.

Know the legal avenues available for individuals and the government to combat and seek redress for white-collar and cybercrimes.

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Definitions:

Operating Activities

Business activities directly related to the production and delivery of goods and services, generating the primary revenue stream.

Ending Inventory

The cost of merchandise on hand for selling when an accounting cycle ends.

Cost of Goods Sold

The immediate expenses associated with manufacturing goods that a company sells.

Purchases

The acquisition of goods or services in exchange for money, constituting a component of a company’s inventory costs.