Which of the Following Accounts Would Be Included in the Chart

question 34

Essay

Which of the following accounts would be included in the chart of accounts of a merchandising company using the: (a) periodic inventory system, (b) perpetual inventory system, or (c) both systems?
(1) Sales Discounts
(2) Merchandise Inventory
(3) Sales
(4) Purchases Discounts
(5) Cost of Merchandise Sold

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Definitions:

Breakdowns

Unplanned stops in machinery or systems due to failure, requiring maintenance or repairs to return to operational state, similar to the concept of Breakdown Maintenance but emphasizing the event rather than the response.

Preventative Measures

Actions taken to reduce the likelihood of an undesirable event occurring, focusing on risk management and safety protocols.

Low Watt Bulbs

Light bulbs that are designed to consume less electrical power, often leading to energy savings and reduced operational costs.

MTBF

Mean Time Between Failures; a reliability measure of the average time a product or system operates before failing.