It Is Necessary to Use a Purchases Account With

question 41

Multiple Choice

It is necessary to use a purchases account with:

• A) only the periodic count method.
• B) only the perpetual accounting control method.
• C) both the periodic count and the perpetual accounting control methods.
• D) either method,if the system designer has included it in the chart of accounts.

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Definitions:

Fluctuations

Variations or changes in a state or quality over time, often seen in economic, environmental, or physical systems.

Greenhouse Gas

Gases in Earth's atmosphere that trap heat, contributing to the greenhouse effect and impacting global climate change.

Nitrous Oxide

Nitrous oxide, also known as laughing gas, is a colorless, non-flammable gas used as an anesthetic in dentistry and surgery, and also as a greenhouse gas contributing to climate change.

Methane

A colorless, odorless flammable gas that is a major component of natural gas and a potent greenhouse gas contributing to global warming.