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Author Question: An account that is used to record merchandise bought for resale: a. Purchases Account b. ... (Read 78 times)

EAugust

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  • Posts: 550
on: Jul 6, 2018
An account that is used to record merchandise bought for resale:
 a. Purchases Account
   b. Purchases Returns & Allowance
   c. Sales Discount
   d. Supplies

Question 2

Under the modified accrual basis, revenues are considered susceptible to accrual if
 
  a. available to finance current period expenditures.
  b. objectively measurable.
  c. collected during the current period.
  d. both available to finance current period expenditures and objectively measurable.


sabina576

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

a

Answer to Question 2

D


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