1. net purchases are: a) purchases + purchases returns and
1. Net purchases are: A) Purchases + Purchases Returns and Allowances. B) Purchases – Purchases Discount – Purchases Returns and Allowances. C) Purchases – Freight – Purchases Returns and Allowances. D) Purchases + Freight-In. 2. Purchases is a(n): A) cost. B) asset. C) liability. D) revenue. 3. A cost account is treated the same as: A) a liability. B) Capital. C) […]