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

question 88

Multiple Choice

Under a perpetual 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:

Active Listening

It is a communication technique that requires the listener to fully concentrate, understand, respond, and then remember what is being said.

Communication

The exchange of information, ideas, or feelings between individuals or groups, through various modes such as speech, writing, or symbolic gestures.

Effective

Being successful in producing a desired or intended result, often used to describe strategies, policies, or products that achieve their goals efficiently.

Sender

The person or entity that initiates a message or communication to a receiver.