Under the Perpetual Inventory System,what Is the Difference Between a Sales

question 114

Multiple Choice

Under the perpetual inventory system,what is the difference between a sales return and a sales allowance?

• A)A sales return reduces the amount receivable from the customer,but a sales allowance does not.
• B)A sales return involves an adjustment to Merchandise Inventory,but a sales allowance does not.
• C)A sales return requires a debit to Sales Returns and Allowances,but a sales allowance does not.
• D)A sales return is not deducted from sales revenue to calculate net sales,but a sales allowance is deducted from sales revenue.

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Definitions:

Genetic Modification

The direct manipulation of an organism's genes using biotechnology, resulting in desired traits not naturally occurring in the organism.

Transgenic Animals

Animals that have had foreign genes deliberately inserted into their genome.

Transgenic Plants

Plants that have been genetically modified to contain one or more genes from another species, often to confer desirable traits such as pest resistance or improved nutritional content.

Gene Therapy

A medical technique that modifies a person's genes to treat or prevent disease by either replacing, adding, or silencing genes.