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::::IIVU ASKARII:::: FIN 621 MCQ??

How would the purchase of merchandise on account be represented in the buyer's records?
Select correct option:
Increase assets and increase expenses
Increase assets and decrease liabilities
Increase assets and increase paid-in capital
Increase assets and decrease revenues
 
How would the purchase of merchandise on account be represented in the buyer's
records?
► Increase assets and increase expenses
► Increase assets and increase liabilities
► Increase liabilities and increase paid-in capital
► Increase liabilities and decrease assets
How would the sale of merchandise on account be represented in the seller's records?
Select correct option:
Increase assets and increase expenses
Increase assets and decrease liabilities
Increase assets and increase paid-in capital
Increase assets and decrease revenues

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