On April 1,a Hardware Retailer Purchases Inventory on Account for $1,800.Which

question 71

Multiple Choice

On April 1,a hardware retailer purchases inventory on account for $1,800.Which of the following correctly describes the effect of this transaction? Assume a perpetual inventory system is used.

• A) Merchandise Inventory decreases by $1,800 and Accounts Receivable decreases by $1,800.
• B) Merchandise Inventory decreases by $1,800 and Accounts Receivable increases by $1,800.
• C) Merchandise Inventory increases by $1,800 and Accounts Payable decreases by $1,800.
• D) Merchandise Inventory increases by $1,800 and Accounts Payable increases by $1,800.

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Definitions:

Advantaged

Having favorable conditions or circumstances that provide a superior position or greater opportunities compared to others.

Society

A group of individuals involving persistent social interactions, or a large social grouping sharing the same geographical or social territory.

Genetic Pollution

The uncontrolled spread of genetic material beyond its intended area, particularly the introduction of genetically modified organisms (GMOs) into the wild, potentially causing harm to native species and biodiversity.

Splicing Genes

A genetic engineering technique that involves cutting and joining fragments of DNA from different sources to incorporate new traits into an organism.