Which of the Following Is True of a Purchases Journal

question 121

Multiple Choice

Which of the following is true of a purchases journal?

• A)For a periodic inventory system,the Merchandise Inventory DR column is replaced with a column titled Cost of Goods Sold DR.
• B)Cash purchases are recorded in the purchases journal.
• C)For a perpetual inventory system,a column titled Purchases DR is needed.
• D)The Other Accounts DR column is used for purchases on account of items other than merchandise inventory and office supplies.

---

Definitions:

College Binge Drinking

Excessive alcohol consumption by college students in a short period of time, often leading to significant health and behavioral issues.

Binge Drinking

Binge drinking is the consumption of an excessive amount of alcohol in a short time period, typically with the intention of becoming intoxicated.

College Campuses

Specific areas or properties owned by educational institutions where academic buildings, dormitories, and facilities for students and staff are located.

Prohibition

The legal act of forbidding certain behaviors or the manufacture, sale, and consumption of specific goods, often alcohol.