If the Perpetual Inventory System Is Used to Record the Purchase

question 38

Multiple Choice

If the perpetual inventory system is used to record the purchase and sale of goods, the account used to record shipping charges is the:

• A)merchandise inventory account.
• B)purchases account.
• C)freight in account.
• D)transportation in account.

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Definitions:

Family Vacation

A period of leisure and recreation spent away from home with one's family members.

Semantic Knowledge

relates to the aspect of memory that stores general knowledge about the world, including concepts, facts, and meanings.

Metacognitive Skill

These are skills related to an individual's ability to understand, control, and manipulate their own cognitive processes, such as planning, monitoring, and evaluating their learning strategies.

Self-Testing

The practice of evaluating one's own understanding or knowledge, typically as a study method to enhance learning and memory retention.