Which of the Following Accounts Would Not Appear on the Financial

question 141

Multiple Choice

Which of the following accounts would not appear on the financial statements of a retailer that does NOT issue its own private label credit card?

• A) Merchandise Inventory
• B) Cash and Cash Equivalents
• C) Merchandise Sales
• D) Credit Card Receivable

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Definitions:

Standard of Care

The degree of care and caution expected from a person or professional under specific circumstances.

Environmental Legislation

Laws and regulations enacted by government bodies to protect the environment from pollution, degradation, and other harms, often setting standards for air, water, and soil quality.

Pollution

The contamination of the natural environment by harmful substances leading to adverse effects on living beings and ecosystems.