When a Company Purchases Inventory on Account (That Is,on Credit),which

question 130

Multiple Choice

When a company purchases inventory on account (that is,on credit) ,which type of account is credited to record the transaction?

• A) asset
• B) expense
• C) liability
• D) owners' equity

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Definitions:

Stages

Stages refer to distinct phases or periods in a process of development or series of events, often implying a sequence of changes.

Parasympathetic Nervous System

Part of the autonomic nervous system responsible for conserving energy and slowing down the body's responses, often termed the "rest and digest" system.

Physiological Reaction

A bodily response to an external stimulus, involving changes in tissue function, organ function, or biochemical levels.

Autonomic Nervous System

The part of the nervous system that controls involuntary bodily functions, including heart rate, digestion, and respiratory rate.