Asked by

Parker Joseph
on Nov 15, 2024

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When a buyer returns merchandise that has been previously purchased, there is a(n) :

A) decrease net income.
B) decrease in assets.
C) increase accounts payable.
D) Not enough information provided.

Decrease Net Income

Any event or transaction that results in a reduction of the net income of a company.

Decrease In Assets

A reduction in the value or quantity of the resources owned by an entity.

Increase Accounts Payable

An action reflecting a rise in the amount owed by a company to its creditors for goods or services received but not yet paid for.

  • Perceive the consequences of buying and returning products on the outcomes of financial statements.
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jonathan elimelechNov 20, 2024
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