When merchandise is sold and the perpetual system of inventory is used, the journal entry for a sale would include:_____.a. debiting Cost of Goods Sold and crediting Accounts Receivable. b. debiting Accounts Receivable and crediting Sales. c. debiting Accounts Receivable and crediting Cost of Goods Sold. d. debiting Accounts Receivable and crediting Inventory.

Answers

Answer 1
Answer:

Answer:

b. debiting Accounts Receivable and crediting Sales.

Explanation:

When merchandise is sold and the perpetual system of inventory is used, the journal entry for a sale would include debiting Accounts Receivable and crediting Sales.

A perpetual system of inventory can be defined as a process of financial accounting, which involves the recording of informations about an inventory on a continuous basis (in real-time) as the sales or purchases are made through the use of enterprise management software applications and a digitized point-of-sale services.

In Accounting, to record a journal entry for a sale on an account, the account receivable would be debited because it is an asset and shall be increased with debits while crediting the sales account for the amount being paid by the customer.

Under a perpetual system of inventory, updates of the journal entry for a sale would include debiting Accounts Receivable and crediting Sales immediately as it is being made or happening. This is to ensure that the inventory account balance is always accurate provided there are no spoilage, theft etc.

Answer 2
Answer:

Final answer:

In a hypothesis test, we formulate a null hypothesis and evaluate sample data to decide if there's enough evidence to reject the null hypothesis. If the evidence supports the null hypothesis, we do not reject it. If it favors the alternative, we reject the null hypothesis.

Explanation:

When conducting a hypothesis test, we basically formulate a null hypothesis and then evaluate the test results to determine if there is enough evidence to reject this hypothesis or not. The initial null hypothesis is a claim, typically denoted with H0, that we initially assume to be true. Here, the null statement must always contain some form of equality (=, ≤, or ≥).

After formulating our null hypothesis, data is collected from a sample and evaluated. The evidence from this sample data is then used to decide if we have enough evidence to reject the null hypothesis or not. If the evidence supports the null hypothesis, we do not reject it. If it favors the alternative hypothesis, we reject the null hypothesis.

It's important to note that a hypothesis test is a procedure for determining whether the hypothesis stated is a reasonable statement and should not be rejected, or is unreasonable and should be rejected. This process of decision making is crucial in various scientific and statistical research methodologies.

Learn more about Hypothesis Testing here:

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Answers

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Explanation:

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Answers

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Answers

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Answers

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Explanation:

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Answers

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