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:

Advertising

The act of promoting a product, service, or brand through various forms of media in order to attract and retain customers.

Standardized Product

Goods or services that are uniform in quality and characteristics across various producers, allowing them to be interchangeable and often leading to competition based on price.

Elastic Demand

Refers to a situation where the quantity demanded for a product or service changes significantly in response to changes in its price.

Pure Monopolist

A single seller in a market with no close substitutes for the product, resulting in complete market control.