Several Sales Transactions and Purchasing Activities for Yu Company Are

question 186

Essay

Several sales transactions and purchasing activities for Yu Company are described below. Yu Company uses a perpetual inventory system.
-Refer to the information provided for Yu Company. Explain the advantages to Yu Company for using the perpetual inventory system. Assume that Yu Company uses a computer system which is linked to its cash registers and that all products have bar codes that are read by bar code readers attached to the cash registers.
A)Yu Company purchased merchandise from Mia Company on credit.
B)Yu Company returned to Mia Company defective merchandise before payment is made.
C)Yu Company pays for the merchandise purchased from Mia Company.
D)Yu Company sells merchandise to its customers for cash and on credit.
E)Credit customers returned merchandise to Yu Company for a refund.
F)Credit customers pay their account balances to Yu Company.

• A)Yu Company purchased merchandise from Mia Company on credit.
• B)Yu Company returned to Mia Company defective merchandise before payment is made.
• C)Yu Company pays for the merchandise purchased from Mia Company.
• D)Yu Company sells merchandise to its customers for cash and on credit.
• E)Credit customers returned merchandise to Yu Company for a refund.
• F)Credit customers pay their account balances to Yu Company.

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Definitions:

Competent Parties

Individuals or entities that are legally capable of entering into a contract, meaning they have the mental capacity and legal authority to do so.

Economic Duress

This involves the use of unlawful pressure or threats by one party to compel another party to act in a way that is against their will or financial interest.

Subjective Evidence

Information or proof based on personal feelings, opinions, or tastes, rather than concrete facts.

Acquiesce

The reluctant acceptance or agreement without protest, often implicitly.