What Journal Entry Is Required When Inventory Is Purchased Under $\mathrm { Cr }$

question 95

Multiple Choice

What journal entry is required when inventory is purchased under the periodic inventory system?

• A) Dr Cost of goods sold
• \(\mathrm { Cr }\) Inventory
• B) Dr Cost of goods sold
• \(\mathrm { Cr }\) Inventory
• Cr Purchases
• C) Dr Inventory
• \(\mathrm { Cr }\) Accounts Payable
• D) Dr Purchases
• \(\mathrm { Cr }\) Accounts Payable

---

Definitions:

Behaviour-Specific Cognitions

Thought processes that are directed towards particular behaviors or outcomes, which can influence an individual's actions and decisions in specific situations.

Fitness Club

A facility equipped with exercise equipment, classes, and sometimes additional amenities, aimed at helping members achieve physical fitness and health.

Perceived Self-Efficacy

An individual's belief in their own capacity to execute behaviors necessary to produce specific performance attainments.

Congestive Heart Failure

A chronic condition where the heart doesn't pump blood as well as it should, leading to a buildup of fluid in the body.