Under the Periodic Inventory System,which of the Following Statements Is

question 235

Multiple Choice

Under the periodic inventory system,which of the following statements is correct?

• A) During the period, the business records the cost of all inventory bought in the Merchandise Inventory account.
• B) Purchase Returns and Allowances and Purchase Discounts are contra expense accounts.
• C) Freight in is debited to the Purchases account.
• D) Purchase discounts are recorded as credits to the Purchases account.

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Definitions:

Persuasive Techniques

Strategies used in communication and rhetoric to influence or convince others to understand, agree with, or act upon a viewpoint.

Stakeholders

Individuals or groups that have an interest, investment, or stake in the success or outcome of a project, business, or initiative.

Recommendation

Advice or suggestions given with the aim of guiding decisions or actions, often based on knowledge, experience, or expertise.

Audience-centered

An approach focusing on the needs, interests, and characteristics of the audience in communication to ensure effectiveness and engagement.