Question and answer
A promissory note A. is a written promise to pay. B. is an oral promise to pay. C. is due in 30 days. D. entitles the maker to a discount
A promissory note is a WRITTEN PROMISE TO PAY.
yumdrea|Points 26743|
Question|Asked by andyweston
Asked 3/6/2016 12:29:44 AM
Updated 3/6/2016 12:53:36 AM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [3/6/2016 12:53:36 AM]
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Questions asked by andyweston
If a credit memorandum is issued, which account will be increased on the seller’s books? A. Accounts Receivable B. Accounts Payable C. Sales Discount D. Sales Returns and Allowances
Question|Asked by andyweston
Updated 3/14/2020 5:38:33 AM
1 Answer/Comment
If a credit memorandum is issued, Accounts Receivable will be increased on the seller’s books.
Added 3/14/2020 5:38:33 AM
This answer has been confirmed as correct and helpful.
Beginning inventory was $4,000, purchases totaled $22,000, and sales were $20,000. What is the ending inventory? A. $2,000 B. $4,000 C. $6,000 D. $8,000
Weegy: Beginning inventory was $4,000, purchases totaled $22,000, and sales were $20,000. 4,000 + 22,000 - 20,000 = 6,000 The ending inventory is $6,000. (More)
Question|Asked by andyweston
Updated 5/17/2020 7:36:28 AM
0 Answers/Comments
One advantage of the LIFO method is that A. an equal cost is assigned to each unit, so net income doesn’t fluctuate as much as with other methods. B. flow of goods and flow of costs are the same. C. it matches current selling prices and current costs. D. ending inventory is valued at very old costs.
Question|Asked by andyweston
Not Answered
Updated 11/18/2020 10:51:12 AM
1 Answer/Comment
One advantage of the LIFO method is that: it matches current selling prices and current costs.

Added 11/18/2020 10:51:12 AM
This answer has been confirmed as correct and helpful.
Which account is used with a periodic inventory system?
Question|Asked by andyweston
Updated 8/24/2022 9:51:53 AM
1 Answer/Comment
Under the periodic inventory system, all purchases made between physical inventory counts are recorded in a purchases account. When a physical inventory count is done, the balance in the purchases account is then shifted into the inventory account, which in turn is adjusted to match the cost of the ending inventory.
Added 8/24/2022 9:51:53 AM
This answer has been confirmed as correct and helpful.
A manufacturer or seller of a product may identify its merchandise and bar others from using the same identification by getting a
Question|Asked by andyweston
Not Answered
Updated 8/30/2020 10:21:17 AM
1 Answer/Comment
A manufacturer or seller of a product may identify its merchandise and bar others from using the same identification by getting a trademark.
Added 8/30/2020 10:21:17 AM
This answer has been confirmed as correct and helpful.
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