What Is the Net Method of Recording Purchases

question 189

Multiple Choice

What is the net method of recording purchases?

• A)A purchase is originally recorded at its full amount with any cash discount taken recorded as a reduction to inventory at a later date.
• B)A purchase is originally recorded at its full amount less any available cash discount.
• C)A purchase is originally recorded at its full amount plus any available cash discount.
• D)A purchase is originally recorded at its full amount with any cash discount taken recorded as an increase to inventory at a later date.
• E)A purchase is originally recorded to a purchase discounts lost account with any cash discount taken recorded as a reduction to inventory at a later date.

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Definitions:

Chair Conformer

A specific spatial arrangement of the cyclohexane ring that minimizes steric strain, resembling a chair shape.

Axial Hydrogens

Hydrogen atoms positioned along the axis of a molecule, perpendicular to a specified plane, often referring to cyclohexane conformations.

Cyclohexane

A saturated hydrocarbon with the molecular formula \(C_6H_{12}\), consisting of a ring of six carbon atoms, and is often used as a nonpolar solvent in chemistry.

Alkyl Substituents

Alkyl substituents are groups of carbon and hydrogen atoms attached to a molecule, derived from alkanes by removing one hydrogen atom.