A Firm Uses the Periodic Inventory Method

question 17

Multiple Choice

A firm uses the periodic inventory method.Which of the following entries would be made to record a purchase of inventory on credit?

• A)The accounting entry would be a debit to Accounts payable,a credit to Inventory and a credit to GST clearing.
• B)The accounting entry would be a debit to Inventory,a debit to GST clearing and a credit to Accounts payable.
• C)The accounting entry would be a debit to Accounts payable,a credit to Purchases and a credit to GST clearing.
• D)The accounting entry would be a debit to Purchases,a debit to GST clearing and a credit to Accounts payable.

Comprehend the role of personal needs and how they impact work behavior and motivation, including the need for affiliation.

Discuss the evolution of motivational theories and the emergence of new perspectives in the past decade.

Appreciate the significance of eustress versus distress in the context of work motivation and outcomes.

Understand the concept of expectancy theory and its cultural implications.

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Definitions:

Mobile Phone Store

A retail shop that specializes in selling mobile phones and related accessories.

Joint Probability Distribution

Describes the probability of two or more events occurring at the same time and the relationship between them.

Probability Distribution

A mathematical description of outcomes in a statistical experiment, detailing how probabilities are distributed across the various possible outcomes.

Mobile Phone Store

A store focused on selling mobile phones, accessories, and related services.