Under the Perpetual Inventory System,in Addition to Making the Entry

question 45

Multiple Choice

Under the perpetual inventory system,in addition to making the entry to record a sales return,a company would

• A)increase Merchandise Inventory and decrease Cost of Goods Sold.
• B)increase Cost of Goods Sold and decrease Purchases.
• C)increase Cost of Goods Sold and decrease Merchandise Inventory.
• D)make no additional entry until the end of the period.

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Definitions:

Neuroticism

A personality trait characterized by moodiness, anxiety, and emotional instability.

Neurotransmitters

Chemicals found in the nervous system that transmit signals from one neuron to another across synapses.

Minnesota Multiphasic Personality Inventory

A standardized psychometric test used to assess and diagnose mental disorders and personality structure.

Empirically Keyed

A method of developing psychological tests that involves analyzing how distinct groups respond differently to items, leading to scales that are empirically linked to particular traits or behaviors.