A Company That Uses the Perpetual Inventory Method Purchases Inventory

question 60

Multiple Choice

A company that uses the perpetual inventory method purchases inventory of $1,000 on account with terms of 2/10,n/30.Defective inventory of $200 is returned 2 days later and the accounts are appropriately adjusted.If the company paid the vendor within 10 days,which of the following entries would be made to record the payment?

• A) $800 debit to Accounts payable and an $800 credit to Cash
• B) $784 debit to Accounts payable, a $16 debit to Inventory and an $800 credit to Cash
• C) $16 debit to Inventory, an $800 debit to Accounts payable and an $816 credit to Cash
• D) $800 debit to Accounts payable, a $16 credit to Inventory and a $784 credit to Cash

Recognize the components and significance of collective bargaining agreements.

Comprehend the differences in benefits and working conditions between unionized and nonunionized employees.

Recognize the impact of external environments on unions as open social systems.

Understand the diversity of union representation in successful companies.

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Definitions:

Androgens

Male sex hormones such as testosterone that regulate the development of male characteristics.

Estrogens

A group of steroid hormones that play a major role in the regulation of the female reproductive system and the development of female secondary sex characteristics.

Follicle Stimulating Hormone

A hormone secreted by the anterior pituitary gland that promotes the formation of ova or sperm.

Granulosa Cells

Specialized cells found within the ovary that are involved in the development of the oocyte and the production of estrogen.