Under a Periodic Inventory System,the Buyer Does Not Use Which

question 11

Multiple Choice

Under a periodic inventory system,the buyer does not use which of the following accounts in recording purchases and related transactions?

• A)Merchandise Inventory
• B)Purchase Returns and Allowances
• C)Purchase Discounts
• D)Purchases

Learn the financial metrics used to assess the management of receivables, such as turnover ratios and days' sales in receivables.

Understand the allowance method for accounting for uncollectible accounts.

Recognize the effects of estimating bad debt expenses on financial statements.

Understand the direct write-off method for uncollectible accounts.

---

Definitions:

Categorical Thinking

refers to the cognitive process of organizing information and experiences into categories for easier understanding and decision-making.

MARS Model

A framework identifying four factors (Motivation, Ability, Role perceptions, and Situational factors) that influence individual behavior and performance at work.

Ability

The possession of the means or skill to do something, often referring to natural competencies or developed skills.

Intensity

The degree of strength, force, or concentration with which a particular attribute, emotion, or physical phenomenon is experienced or presented.