equired information

Required information

LO $3-1$: $($Static$)$ Record and report on inventory transactions using the perpetual system $($prerequisite LO $2-6)$

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Assessment $4$: $($Static$)$ Which of the following shows the effects... LO $3-1$

Which of the following shows the effects of purchasing inventory on account?

Balance sheet Income Statement Statement of Cash Flows

Assets $=$ Liabilities $+$ Equity Revenue $$ Expenses $=$ Net Income

A$.+=++$ NA NA $+=$ NA

B$.+=$ NA $++$ NA $$ NA $=$ NA $+$ OA

C$.+=++$ NA NA $$ NA $=$ NA NA

D$.+=++$ NA NA $$ NA $=$ NA $+$ OA

Multiple Choice

Option A

Option B

Option C

Option D