The Entry to Record the Return of Goods to a Supplier

question 1

Multiple Choice

The entry to record the return of goods to a supplier under the perpetual inventory system,including GST,is:

• A)Debit Inventory,credit Purchases Returns,credit GST outlays
• B)Debit Accounts Payable,credit Purchases,credit GST outlays
• C)Debit Inventory,debit GST outlays,credit Accounts Payable
• D)Debit Accounts Payable,credit Inventory,credit GST outlays

Comprehend the concept of adaptive organisations and their benefits.

Understand the importance of a clear division of labor, hierarchy of authority, and formal rules in organisational design.

Acknowledge the role of organisational design in aligning resources with the mission and objectives of the organisation.

Discern the relationship between organisational design, human resources, and the success of the organisation.

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Definitions:

Export and Import Permits Act

Legislation that controls the export and import of specific goods and technologies to and from a country, requiring permits for certain items to ensure national security and compliance with international agreements.

Bill of Lading

A bill of lading is a legal document issued by a carrier to the shipper, detailing the type, quantity, and destination of the goods being transported.

SFC

Stands for Securities and Futures Commission, a regulatory agency overseeing securities and futures markets for integrity and protection against malpractice.

Nautical Navigation

The process and practice of charting a course for ships, boats, and other watercraft over bodies of water.