Question 41 Not yet answered Each business should have distinguished accounting books from other companies. This concept refers to the concept of Marked out of 1.00 Flag question O a. Accounting Period O b. Historical Cost O c. Economic entity O d. Continuity Under a periodic inventory system, acquisition of merchandise is debited to the Question 42 Not yet answered Marked out of 1.00 O a. Merchandise Inventory Account O b. Accounts Payable Account c. Purchases Account d. Cost of Goods Sold Account Flag