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Author Question: A contra-account that records the company's returns of merchandise purchased from suppliers: a. ... (Read 98 times)

debasdf

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  • Posts: 570
on: Jul 6, 2018
A contra-account that records the company's returns of merchandise purchased from suppliers:
 a. Purchases Discounts
   b. Sales Returns and Allowances
   c. Freight-In
   d. Purchases Returns and Allowances

Question 2

Which organization has the highest level of authority for a setting GAAP for nongovernment, not-for-profit organizations?
 
  a. FASB.
  b. GASB.
  c. AICPA.
  d. NCGA.


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morganmarie791

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Reply #1 on: Jul 6, 2018
Answer to Question 1

d

Answer to Question 2

A


debasdf

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Reply 2 on: Jul 6, 2018
Great answer, keep it coming :)

bblaney

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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