Using a Perpetual Inventory System, the Entry to Record the Purchase

question 118

Multiple Choice

Using a perpetual inventory system, the entry to record the purchase of $30,000 of merchandise on account would include a

• A) debit to Accounts Payable
• B) debit to Inventory
• C) credit to Inventory
• D) credit to Sales

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Definitions:

Contingency Management

A behavior modification technique where certain behaviors are reinforced by rewards or punishments.

Positive Reinforcement

A behavioral strategy employing rewards or positive outcomes to increase the likelihood of a desired behavior being repeated.

Antecedent

An event, condition, or stimulus that precedes a behavior and may influence or trigger the behavior to occur.

Stimulus Control

A behavioral technique in psychotherapy that involves altering the environment to reduce the stimuli that trigger unwanted behaviors.