Under the Perpetual Inventory System,which of the Following Accounts Would

question 108

Multiple Choice

Under the perpetual inventory system,which of the following accounts would not be used?

• A)Sales
• B)Purchases
• C)Cost of Goods Sold
• D)Merchandise Inventory

---

Definitions:

Stockholders' Equity

The residual interest in the assets of an entity after deducting its liabilities, representing the ownership stake of the shareholders.

Unearned Revenue

Revenue a business earns from selling products or services that have not yet been delivered to the buyer.

Tutoring Services

Educational support and personalized instruction provided by a tutor to help students improve their understanding and performance in specific subjects.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights.