Juan Experiences Symptoms of Sad Mood,increased Sleep,agitation,poor Appetite,and Concentration Difficulties

question 19

Multiple Choice

Juan experiences symptoms of sad mood,increased sleep,agitation,poor appetite,and concentration difficulties most of the day.Julia,on the other hand,has symptoms of loss of interest in activities,lethargy,increased appetite,feelings of worthlessness,and recurrent thoughts of death.What can be concluded regarding Juan and Julia?

• A)Both Juan and Julia have Bipolar disorder
• B)Juan has mania,whereas Julia has major depression.
• C)Both have major depression.
• D)Both have cyclothymic disorder.

Learn the effects of sales discounts on revenue recognition and how they are recorded in financial statements.

Understand the operation of merchandisers and retailers and the role of inventory in their financial transactions.

Grasp the implications and application of credit terms in sales transactions.

Identify the accounting treatment for sales tax payable and the importance of sales tax in financial transactions.

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Definitions:

Credit Memorandum

Increase in depositor’s balance.

Original Price

The initial selling price of a good or service before any discounts, deductions, or adjustments are applied.

Debit Memorandum

Decrease in depositor’s balance.

Perpetual Inventory Method

A system of inventory management where adjustments to inventory records are made on a continuous basis as sales and purchases happen.