Which of the Following Is NOT Included in the Purchases

question 43

Multiple Choice

Which of the following is NOT included in the purchases journal?

• A) purchases of merchandise inventory for cash
• B) purchase of merchandise inventory on account
• C) purchase of office supplies on credit
• D) purchase of equipment on account

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Definitions:

ATMs

Automated Teller Machines that allow customers to undertake financial transactions, notably cash withdrawals, without the need for a human clerk or bank teller.

Bank Tellers

Employees at financial institutions who deal directly with customers, handling routine banking transactions.

Substitute

A product or service that can replace another, offering consumers an alternative choice.

Imperfect Competition

Imperfect competition describes a market structure where the conditions necessary for perfect competition are not met, including markets with monopolies, oligopolies, and monopolistic competition.