In the periodic inventory system, purchases of merchandise for resale are debited to the Purchases ...

Author Question: In the periodic inventory system, purchases of merchandise for resale are debited to the Purchases ... (Read 79 times)

naturalchemist

Hero Member
Posts: 542

on: Jul 5, 2018

In the periodic inventory system, purchases of merchandise for resale are debited to the Purchases account.
a. True
b. False

Indicate whether the statement is true or false

Question 2

Profit is the difference between assets and liabilities.

Indicate whether the statement is true or false

Kjones0604

Sr. Member
Posts: 327

Reply #1 on: Jul 5, 2018

Answer to Question 1

True

Answer to Question 2

FALSE

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