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Adrian Is a Cognitive Therapist

question 66

Multiple Choice

Adrian is a cognitive therapist.He intends to help his client Troy, who feels that he is a born loser and will continue to be a loser in the future.According to this information, which of the following cognitive therapy techniques should be implemented by Adrian?

Distinguish the accounts used and affected in the periodic inventory system.
Differentiate between the accounts impacted in the perpetual inventory system.
Know how to record freight charges and merchandise purchases on credit under both systems.
Understand the implications of merchandise returns on account balances under the perpetual inventory system.

Definitions:

Standard Production Time

The amount of time that should reasonably be expected to manufacture a product under normal conditions.

Fringe Benefits

Additional benefits supplementing an employee's salary, such as health insurance, paid vacation, or a company car.

Freight Costs

Expenses incurred by a company to transport goods from one place to another.

Purchase Price

The amount of money paid to acquire a good, service, or asset.

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