In a Perpetual Inventory System,the Credit Columns of a Typical

question 136

Multiple Choice

In a perpetual inventory system,the credit columns of a typical cash payments journal are ________.

• A) Merchandise Inventory column and Cash column
• B) Other Accounts column and Accounts Payable column
• C) Merchandise Inventory column and Accounts Payable column
• D) Other Accounts column and Cash column

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Definitions:

Defined Contribution Plan

A retirement plan in which the employee, employer, or both make contributions on a regular basis, but the benefit received upon retirement depends on the plan's investment performance.

401k Plans

A retirement savings plan sponsored by an employer that allows employees to save and invest a portion of their paycheck before taxes are taken out.

Employer Match

A contribution made by an employer to an employee's retirement plan, equal to a certain percentage of the employee's own contributions.

Return On Investment

A measure of the profitability and efficiency of investment, calculated by dividing net profit by the initial capital cost.