In a Periodic Inventory System, the Cost of Purchases Is

question 35

Multiple Choice

In a periodic inventory system, the cost of purchases is debited to:

• A) Purchases.
• B) Cost of goods sold.
• C) Inventory.
• D) Accounts payable.

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Definitions:

Merger

The combination of two or more companies into a single entity, typically with the aim of boosting competitiveness or market share.

Join Forces

To unite or collaborate with others for a common purpose or goal.

One Entity

Refers to a singular organization, business, or individual regarded as a single unit for legal, financial, or operational purposes.

Merger

The combination of two or more companies into a single entity, with the goal of increasing market share or efficiency.