mpt 1 In a periodic inventory system as opposed to a perpetual inventory system the purchase of merchandise inventory A) credits purchases B) debits purchases and credits merchandise inventory C) credits merchandise inventory D) debits purchases and credits accounts payable Question 36 (1 point) Depreciation expense A) is not caused by deterioration of an asset B) recorded for all assets including land C) can be calculated using different depreciation methods such as straight-line D) is an allocation to show assets at market value Question 37 (1 point) Another name for a business organization is an accounting entity. True