Under the Perpetual Inventory System, the Number of Accounting Entries

question 35

Multiple Choice

Under the perpetual inventory system, the number of accounting entries required to record a credit sale is:

• A) 1.
• B) 2.
• C) 3.
• D) 4.

---

Definitions:

Private Law

The area of law that deals with relationships between individuals or institutions, often involving private contracts and disputes.

Public Law

The body of law that governs relationships between individuals and the government, including constitutional, administrative, and criminal laws.

Legal Remedy

The means by which a court of law enforces a right, imposes a penalty, or makes some other court order to impose its will.

Business Organization

An entity formed with the purpose of conducting commercial activities, such as corporations, partnerships, and sole proprietorships.