Multiple Choice
An account used in the periodic inventory system that is not used in the perpetual inventory system is
A) Merchandise Inventory
B) Sales
C) Sales Returns and Allowances
D) Accounts Payable
E) Purchases
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q89: A company has net sales and cost
Q90: A retailer is an intermediary that buys
Q91: The acid-test ratio reflects the _ of
Q93: Purchase returns refer to merchandise a buyer
Q93: The profit margin ratio is gross margin
Q94: A company purchases merchandise with a catalog
Q96: Assets tied up in inventory are not
Q97: Using the following year-end information for Breanna
Q195: The seller is responsible for paying shipping
Q249: How do closing entries for a merchandising