The return of merchandise was recorded as a debit to accounts payable and a credit to purchases. this error would cause
a. the periods end assets to be understated
b. the periods end liabilities to be understated
c. the periods net income to be understated
d. none of the above

D. None of the above

Explanation:

Proper double entry bookkeeping requires that there must always be an offsetting debit and credit for all entries made into the general ledger. To record accounts payable, the accountant credits accounts payable when the bill or invoice is received. The debit offset for this entry is typically to an expense account for the good or service that was purchased on credit. The debit could also be to an asset account if the item purchased was a capitalizable asset. When the bill is paid, the accountant debits accounts payable to decrease the liability balance. The offsetting credit is made to the cash account, which also decreases the cash balance.

hi there, i would say your answer is:

b. there is a fixed quantity of resources and technology available.

hope that : )

answer; burned it;