For the Perpetual Inventory System,which of the Following Effects Does

question 54

Multiple Choice

For the perpetual inventory system,which of the following effects does not occur upon the return from a customer of merchandise sold on account?

• A)Increases Sales Returns and Allowances and decreases Accounts Receivable
• B)Decreases Cost of Merchandise Sold and increases Merchandise Inventory
• C)Increases Purchase Returns and Allowances and decreases Merchandise Inventory
• D)All of these occur.

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Definitions:

Compliance

The tendency to agree to do things requested by others, often to conform with social norms or expectations.

Reciprocity Norm

A social norm suggesting that people should return the help they have received from others, creating a system of mutual cooperation and support.

Consistency Principle

The psychological tendency to remain aligned with our previous beliefs, attitudes, and behaviors to maintain a sense of self-consistency.

Need for Acceptance

A psychological condition where individuals seek acknowledgment and approval from others to feel valued and connected.