Under the Perpetual System,the Purchase of Merchandise Is Recorded by A

question 80

Multiple Choice

Under the perpetual system,the purchase of merchandise is recorded by a:

• A)debit to Merchandise Inventory; credit to Accounts Payable or Cash.
• B)debit to Cost of Goods Sold; credit to Accounts Payable.
• C)debit to Purchases; credit to Accounts Payable.
• D)debit to Accounts Payable; credit to Purchases.

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Definitions:

Half-Life

Time it takes for one-half of an administered substance to be lost through biological processes.

Endocrine System

A collection of glands that produce hormones which regulate metabolism, growth and development, tissue function, and mood.

Exocrine Glands

Glands that release their secretions through ducts either to the external environment or into the internal organ surfaces.

Hypothalamus

A region of the brain below the thalamus that coordinates both the autonomic nervous system and the activity of the pituitary, controlling body temperature, hunger, and thirst.