A debit memo is used by the buyer to adjust the following a
A debit memo is used by the buyer to adjust the following accounts,… A debit memo is used by the buyer to adjust the following accounts, which are:Select one:A.Accounts Payable, Cost of Merchandise Sold.B.Accounts Payable, Merchandise Inventory account.C.Accounts Payable, Purchase Returns and Allowances.D.Merchandise Inventory, Cost of Merchandise Sold. A company has fixed costs of RM1,500 and contribution margin per unit of RM5. Which of the following statement is (are) TRUE?I. Each unit contributes RM5 toward covering the fixed costs of RM1,500.II. The situation described is not possible and there must be an error.III. Once the break-even point is reached, the company will make money at the rate of RM5 per unit.IV. The break-even can be calculated from the given scenario.Select one:A.I, III and IV.B.I and III.C.I and II.D.I, II and III. The followings are tools for analysing the financial statements EXCEPT:Select one:A.common-size statements.B.horizontal analysis.C.vertical analysis.D.concurrent analysis. On 1 June 2022, Padson bought supplies of RM4,000. In June, Padson consumed RM1,500 supplies. Assume that Padson forgot to adjust the supplies account before preparing the financial statement; what is the effect of the non-adjustment on the asset and expenses account. Select one:A.The asset account is overstated by RM2,500, and the expenses account is understated by RM2,500.B.The asset account is understated by RM2,500, and the expenses account is overstated by RM2,500.C.The asset account is understated by RM2,500, and the expenses account is understated by RM2,500.D.The asset account is overstated by RM2,500, and the expenses account is overstated by RM2,500. Business Accounting ACCOUNTING BKAL1013
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