The Journal Entry to Record the Purchase of Inventory on Account

question 96

Multiple Choice

The journal entry to record the purchase of inventory on account under the periodic inventory system is:

• A)debit Inventory and credit Accounts Payable.
• B)debit Purchases and credit Accounts Payable.
• C)debit Cost of Goods Sold and credit Accounts Payable.
• D)debit Inventory and credit Cost of Goods Sold.

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Definitions:

General Self-Efficacy

Refers to a person's belief in their ability to perform tasks and handle challenges across a variety of different settings and situations.

High Negative Affectivity

refers to a personality characteristic involving a pervasive pattern of negative emotions and poor self-concept.

Workplace Stress

The physical and emotional response that occurs when the demands of the job do not match the capabilities, resources, or needs of the worker.

High Negative Affectivity

A temperament trait characterized by persistent negative emotions and poor stress management.