The Public Company Accounting Oversight Board is required to ...

[2125004343]

The Public Company Accounting Oversight Board is required to oversee the Internal Revenue Service.
 
  Indicate whether the statement is true or false

Question 2

When purchases of merchandise are made on account with a perpetual inventory system, the transaction is recorded with which entry?
 a. debit Accounts Payable; credit Merchandise Inventory
  b. debit Merchandise Inventory; credit Accounts Payable
  c. debit Merchandise Inventory; credit Cash Discounts
  d. debit Merchandise Inventory; credit Purchases

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Answer to Question 1

FALSE

Answer to Question 2

b

[2125004343]

Gracias!

[bitingbit]

Thanks for the timely response, appreciate it