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Author Question: Liabilities are increased with debit entries. Indicate whether the statement is true or ... (Read 37 times)

Starlight

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on: Jul 5, 2018
Liabilities are increased with debit entries.
 
  Indicate whether the statement is true or false

Question 2

If the perpetual inventory system is used, an account entitled Cost of Merchandise Sold is included in the general ledger.
 a. True
  b. False
 
   Indicate whether the statement is true or false


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cadimas

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Reply #1 on: Jul 5, 2018
Answer to Question 1

FALSE

Answer to Question 2

True


Starlight

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Reply #2 on: Jul 5, 2018
Thank you


cadimas

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Reply #3 on: Jul 5, 2018
No problemo


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