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3 points The amount recorded for merchandise inventory includes all of the following except: Returns and allowances. Trade discounts Purchase discounts Freight costs paid by the seller. 3 points The Cost-Benefit Principle for accounting information systems requires that the System must have methods and procedures allowing managers to control and monitor business activities. Benefits from an activity outweigh the costs of the activity. System be able to adjust to changes in the company, business environment, and needs of decision makers. System conforms to a company's activities, personnel, and structure System report useful, understandable, timely, and pertinent information for effective decision making