Under the Perpetual Inventory System, What Is the Difference Between

question 11

Multiple Choice

Under the perpetual inventory system, what is the difference between a sales return and a sales allowance?

• A)A sales return reduces the amount receivable from the customer, but an allowance does not.
• B)A sales return involves an adjustment to Merchandise Inventory, but a sales allowance does not.
• C)A sales return requires a debit to Sales Returns and Allowances, but a sales allowance does not.
• D)A sales allowance is deducted from Sales revenue to calculate net sales, but a sales return is not.

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Definitions:

Diiodocyclohexane

A cyclohexane ring with two iodine atoms attached, used in various chemical synthesis reactions or as a precursor in organic chemistry.

Tertiary Halide

An organic compound in which a halogen atom is bonded to a tertiary carbon atom, making it more susceptible to certain types of nucleophilic substitution reactions.

Dichlorocyclopentane

A cyclopentane ring with two chlorine atoms attached to it, used as an intermediate in organic synthesis.

IUPAC Name

The systematic name given to a chemical substance, based on the rules established by the International Union of Pure and Applied Chemistry.