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Which of the Following Accounts Would Be Included in the Chart

Question 216

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Which of the following accounts would be included in the chart of accounts of a merchandising company

Premises:
Sales Discounts
Merchandise Inventory
Sales
Purchases Discounts
Cost of Merchandise Sold
Freight In
Delivery Expense
Sales Returns and Allowances
Responses:
periodic inventory system
perpetual inventory system
both systems

Correct Answer:

Sales Discounts
Merchandise Inventory
Sales
Purchases Discounts
Cost of Merchandise Sold
Freight In
Delivery Expense
Sales Returns and Allowances
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