Which of the Following Accounts Is Used in the Periodic

question 94

Multiple Choice

Which of the following accounts is used in the periodic inventory system but not used in the perpetual inventory system?

• A) Sales
• B) Merchandise Inventory
• C) Purchases
• D) Accounts Payable
• E) Sales Returns and Allowances

Recognize the significance of sunlight in photosynthesis and its role in producing oxygen as an ecosystem service.

Understand the role of oceans in carbon sequestration and their impact on climate change.

Comprehend the concept of ecological communities and ecosystems.

Grasp the significance of the carbon cycle and human impacts on carbon pools.

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Definitions:

Seller Receives

The final amount a seller gets after transaction costs, taxes, or any deductions when a good or service is sold.

Taxes Levied

Charges imposed by governments on individuals or entities to fund government spending on public services and infrastructure.

Tax Burden

The total amount of tax levied on an individual or entity, indicating the actual economic impact of taxation on wealth.

Tax Imposed

A financial charge or levy placed by a government on an individual or an entity to fund public expenditures.