Which of the Following Is NOT Typically Shown as a Separate

question 164

Multiple Choice

Which of the following is NOT typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?

• A) Interest Revenue CR column
• B) Cost of Goods Sold DR, Merchandise Inventory CR column
• C) Sales Revenue CR column
• D) Sales Discounts Forfeited CR column

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Definitions:

Markets for Goods

Platforms or venues where goods and services are exchanged between buyers and sellers, determining the prices through the laws of supply and demand.

Households

Units consisting of one or more people living in the same dwelling and sharing meals or living accommodation; they can also be considered as basic units in society for consumption, production, and decision-making.

Firms

Business organizations, such as corporations or partnerships, engaged in commercial, industrial, or professional activities.

Markets for Goods

Platforms or mediums where goods and services are exchanged between buyers and sellers.