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make sure they are correct pls In a Perpetual Inventory System, what type of accounts would you use to record the cash purchase of goods
make sure they are correct pls
In a Perpetual Inventory System, what type of accounts would you use to record the cash purchase of goods to be sold? Select the single best answer. A. You would record both the goods purchased and the cash spent in an asset account B. You would record the goods purchased in an expense account, and the cash spent in an asset account C. You would record the goods purchased in an expense account, and the cash spent in aliis account D. You would record the goods purchased in an annet account, and the cash spent in an expense account E. You would record both the goods purchased and the cathspent in an expense account b What type of entries do you use to correct any mistakes and get your books back is balance at the end of an accounting period Select the single best answer A Recurring Entries 8. Closing Entries C. Posting Entries D. Correcting Entries E. Manual Entries C How do you determine whether your books are in balance? Select the single best answer A You prepare a statement of Cash Flow B. You match the balance to your checkbook C! You prepare a balance sheet D You prepare a trial balance E. You close the accounting period, What is the key formula used in accounting for balancing the books? Select the single best answer: Assotsibilities - Equity B. Equity = Arts+labilition C. Abotsabilities Equity D. Liabilities Assets Equity Ets Equity - Lisblllti d Step by Step Solution
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