Under a Periodic Inventory System,which of the Following Entries Would

question 32

Multiple Choice

Under a periodic inventory system,which of the following entries would record the purchase of merchandise on credit?

• A) Debit Inventory and credit Accounts Payable
• B) Credit Purchases and debit Cost of Goods Sold
• C) Credit Sales and debit Accounts Receivable
• D) Debit Purchases and credit Accounts Payable

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Definitions:

HR Triad

A conceptual framework in human resources management that includes three key actors: line managers, HR professionals, and employees.

Human Resources

The department within an organization responsible for managing all matters related to the employment lifecycle, including hiring, training, compensation, and employee relations.

Contributing

The act of giving or adding to something, especially in the context of a group effort or project.

HR Department

The division within a company responsible for managing all aspects of employee relations, including recruitment, training, payroll, and benefits administration.