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Determine which of the following statements about merchandise is correct. Multiple choice question. Merchandise is acquired for use in the company, just like supplies. Merchandise

Determine which of the following statements about merchandise is correct.

Multiple choice question.

Merchandise is acquired for use in the company, just like supplies.

Merchandise is considered an expense in the period it is purchased.

Merchandise is acquired for resale to customers.

Merchandise is sold by customers.

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