Recording depreciation each period is necessary in accordance with the:

a. accounting period concept

b. cost principle

c. going concern principle

d. accounting entity concept

188.

When a purchase of inventory on credit (using perpetual inventory) is processed in MYOB using Enter Purchases in the Purchases command centre, the accounting result is:

a. Dr Inventory, Dr GST Collected, Cr Accounts Payable

b. Dr Purchases, Dr GST Collected, Cr Accounts Payable

c. Dr Inventory, Dr GST Paid, Cr Accounts Payable

d. Dr Purchases, Dr GST Paid, Cr Accounts Payable