Match the Terms with the Descriptions Related to Merchandise Sales

question 176

Multiple Choice

Match the terms with the descriptions related to merchandise sales and purchases.
-Requires updating of the inventory account at the time of each purchase and each sale.

• A)Transportation-in
• B)Perpetual inventory system
• C)Net purchasesd.
• D)FOB Destination
• E)Cost of goods available for sale
• F)Periodic inventory system
• G)FOB Shipping point
• H)Delivery expense

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Definitions:

Reconstruction Amendments

Refers to the 13th, 14th, and 15th amendments to the United States Constitution, adopted after the Civil War, which abolished slavery, granted citizenship rights, and gave voting rights to formerly enslaved individuals.

Birthright Citizenship

The legal principle whereby anyone born within a country's territory automatically acquires its citizenship at birth.

Segregation

The enforced separation of different racial groups in a country, community, or establishment, resulting in inequality and discrimination.

Horatio Seymour

A 19th-century American politician who served as the Governor of New York and was the Democratic candidate for President of the United States in 1868.