Which Statement Is Correct

question 11

Multiple Choice

Which statement is correct?

• A)The "gross" method for recording cash discounts is conceptually better than the "net" method.
• B)The net method understates expenses.
• C)The gross method overstates revenue.
• D)Under the "gross" method, an entry is needed if the discount is taken.

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Definitions:

Digestive System

The complex series of organs and glands responsible for the ingestion, digestion, and absorption of food and elimination of waste.

Trypsin

An enzyme produced in the pancreas that helps digest proteins in the small intestine.

Chymotrypsin

An enzyme located in the small intestine that digests proteins into smaller peptide fragments.

Pancreas

A glandular organ in the digestive system and endocrine system of vertebrates, producing digestive enzymes and hormones such as insulin.