A Merchandiser Uses a Perpetual Inventory System

question 110

Multiple Choice

A merchandiser uses a perpetual inventory system. The third step in the process of closing the accounts of a merchandiser is to:

• A)make the revenue accounts equal to zero via the Income Summary account.
• B)make the Income Summary account equal to zero via the Owner's Name, Withdrawals account.
• C)make the expense accounts equal to zero via the Income Summary account.
• D)make the Income Summary account equal to zero via the Owners' Name, Capital account.

---

Definitions:

Lyme Disease

An infectious disease caused by Borrelia burgdorferi bacteria, transmitted to humans through the bite of infected black-legged ticks.

Melanoma

A type of skin cancer that develops from the pigment-producing cells known as melanocytes, often due to DNA damage caused by ultraviolet radiation.

Diameter

A straight line passing from side to side through the center of a body or figure, especially a circle or sphere.

Ordinary Mole

A common type of skin growth that often appears as a small, dark brown spot and is generally harmless.