This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When using a perpetual inventory system, a business will debit Merchandise Inventory and credit Cost ... (Read 163 times)

gbarreiro

  • Hero Member
  • *****
  • Posts: 566
on: Jul 6, 2018
When using a perpetual inventory system, a business will debit Merchandise Inventory and credit Cost of Goods Sold each time a sale is recorded.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Both wholesalers and retailers are types of merchandising companies.
 a. True
   b. False
   Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

soda0602

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 6, 2018
Answer to Question 1

False

Answer to Question 2

True


gbarreiro

  • Member
  • Posts: 566
Reply 2 on: Jul 6, 2018
Wow, this really help

jamesnevil303

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Schematic overview of the cardiovascular system. Schematic overview of the cardiovascular system.
Maternal-fetal incompatibility in the Rh system. Maternal-fetal incompatibility in the Rh system.
Block Diagram of Single-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid Block Diagram of Single-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid
This distributor ignition system uses a remotely mounted ignition coil. This distributor ignition system uses a remotely mounted ignition coil.
The Nervous System and Homeostasis The Nervous System and Homeostasis
Complete Digestive System: Bird Complete Digestive System: Bird
Video: Role of ATP in muscle movement

For a complete list of videos, visit our video library