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Author Question: In the periodic inventory system, purchases of merchandise for resale are debited to the Purchases ... (Read 116 times)

naturalchemist

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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

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

True

Answer to Question 2

FALSE


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