Answer:
F. Debit Accounts Payable $50.
B. Credit Merchandise Inventory $50.
Explanation:
As the company uses perpetual Inventory System, the journal entry to record the purchase return will be -
Debit Accounts Payable $50
Credit Merchandise Inventory $50
As the purchase was on credit, cash would not be either debit or credit. As the Merchandise Inventory returned to the suppliers, inventory was decreased. Hence, inventory will not be debit. Accounts payable was reduced too. Therefore, accounts payable will not be credit. Purchase returns are used in the periodic inventory system.
Answer:
False.
Explanation:
In Business management, it is very important, essential and necessary that the top executives or management of an organization design, develop and establish a set of ethical codes, principles, laws, rules, regulations and standards that serve as guidelines, procedures and moral compass to all the employees working in an organization. These set of rules help the employees to understand what is acceptable or allowed while working with the company, as well as understanding the difference between right and wrong behaviors in their actions and decision-making.
Hence, individual employees do not have any influence over ethical expectations and behavior because it is out of their control and are primarily being defined by the top executives or management of the company.
I believe the answer is -A!
Have a Warm and Wonderful Day!!
The most likely based on the options available is that he had a poor credit score (Answer B). As he was interviewing for a bank manager position, it's likely the bank would only want to hire staff with a good credit history.
