A Company Using the Perpetual Inventory Method Paid $250 Cash

question 101

Multiple Choice

A company using the perpetual inventory method paid $250 cash to have goods delivered from one of its suppliers. The payment of $250 for transportation-in is considered:

• A)an asset source transaction
• B)an asset exchange transaction
• C)an asset use transaction
• D)a claims exchange transaction

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Definitions:

Systematic Desensitization

A behavioral therapy technique used to reduce phobic reactions through gradual exposure to the feared object or situation.

Spontaneous Recovery

The reappearance of a previously extinguished conditioned response after a period of time without exposure to the conditioned stimulus.

Mental Representation

An internal image or concept of an external reality or abstract idea.

Extinct Conditioned Responses

The process by which a conditioned response becomes weaker or disappears after the conditioned stimulus is repeatedly presented without the unconditioned stimulus.