The Following T-Accounts Are from the Ledger of Hill Company

question 39

Multiple Choice

The following T-accounts are from the ledger of Hill Company.Hill uses the periodic inventory system.


Which of the following is true about Hill Company?

• A)When merchandise is sold,the Purchases account will be credited for cost of goods sold.
• B)The accounts indicate that Hill returned $6,000 of merchandise to a supplier.
• C)The balance in the purchases account will appear on the balance sheet at year end.
• D)The T-accounts indicate that Hill purchased inventory on account.

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Definitions:

Cerebellum

A region of the brain located at the back of the skull, playing key roles in motor control, coordination, and balance.

Reticular Activating System

A network of neurons located in the brainstem that plays a critical role in controlling arousal and alertness.

Peripheral Nervous System

The Peripheral Nervous System consists of the nerves that lie outside the central nervous system and connect it to the rest of the body.

Nervous System

The complex network of neurons and cells that transmits signals between different parts of the body, facilitating bodily functions and responses to the environment.