Unger Company Uses the Perpetual Inventory Method

question 15

Multiple Choice

Unger Company uses the perpetual inventory method. Unger sold goods that cost $3,500 for $7,200. If the sale was made to a customer on account, the sale will:

• A) increase total assets by $3,700.
• B) increase total liabilities by $7,200.
• C) increase total liabilities by $3,500.
• D) increase total assets by $7,200.

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Definitions:

Nucleic Acids

Large biomolecules essential for all known forms of life, including DNA and RNA, which carry genetic information.

Phospholipids

A class of lipids that are a major component of all cell membranes, consisting of two fatty acids, a glycerol unit, and a phosphate group.

ATP

Adenosine triphosphate, a universal energy currency of cells, used to fuel various cellular processes.

Macronutrient

A type of nutrient required in large amounts for human growth, development and maintenance, including proteins, fats, and carbohydrates.