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:

Sun Exposure

The amount of time spent under the sun, significant for vitamin D synthesis and mood enhancement but with risks like skin damage or cancer from overexposure.

Free Radicals

Unstable atoms or molecules in the body that can cause damage to cells, leading to aging and diseases.

Fruits

Edible plant structures that contain seeds, often sweet and consumed as part of a healthy diet for their nutrients and fiber.

Complex Carbohydrates

Carbs consisting of long chains of sugar molecules that provide sustained energy, found in foods like whole grains, legumes, and vegetables.