An Entry to Record the Purchase of Inventory on Account

question 101

Multiple Choice

An entry to record the purchase of inventory on account under the perpetual inventory method

• A) increases total assets.
• B) decreases total liabilities.
• C) decreases total assets.
• D) increases total equity.

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Definitions:

Atomic Weight

The sum of the weight of the subatomic particles in an average atom of an element, given in atomic mass units.

Green Olivine

A green-colored, magnesium-iron silicate mineral often found in igneous rocks, indicative of certain geological conditions.

Mantle

The thick layer of rock between Earth's crust and its outer core, responsible for plate tectonics and volcanic activity due to convection currents.

Proton

Principal particle of an atomic nucleus with a positive charge.