If a company uses a perpetual inventory system, it will maintain all of the following accounts except: "In a perpetual system, when a entry is a return of merchandise on account what is debited"
A. Cost of Goods Sold
B. Purchases
C. Sales
D. Inventory
Ans: B. Purchases
Business
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Liquidity ratio: Bathez Corp. has receivables of $334,227, inventory of $451,000, cash of $73,913, and accounts payables of $469,553. What is the firm's current ratio?
A) 1.83 B) 0.73 C) 1.67 D) None of the above
Business
All of the following are types of misrepresentation EXCEPT:
A. Twisting B. Churning C. Turning D. Sliding
Business