What Is the First Step in the Accounting Cycle for a Merchandising

question 162

Multiple Choice

What is the first step in the accounting cycle for a merchandising company?

• A) The company sells inventory to customers, creating accounts receivable.
• B) The company collects cash.
• C) The company buys inventory.
• D) The company delivers inventory to customers.

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Definitions:

Happiness

A state of well-being and contentment characterized by emotions ranging from contentment to intense joy.

Touch

The act of coming into contact with something or someone.

Gender

The state of being male or female.

Setting

The environment or context in which something takes place, including physical locations, cultural backgrounds, and social circumstances.