Under the gross method of accounting for purchases:

a. The purchase of inventory is recorded for its full amount.

b. The amount paid for inventory during the discount period is the full amount of the purchase minus the discount.

c. The amount paid for inventory after the discount period is the full amount of the purchase.

all the options are correct:

Explanation:

A typical journal entry to record the purchase of merchandise would be:

January 2, 2020, merchandise purchased on credit, terms 2/10, n/30.

Dr Merchandise inventory 10,000

    Cr Accounts payable 10,000

if the invoice is paid within the discount period:

January 8, 2020, invoice is paid

Dr Accounts payable 10,000

    Cr Cash 9,800

    Cr Purchase discounts 200

if the invoice is not paid within the discount period:

January 18, 2020, invoice is paid

Dr Accounts payable 10,000

    Cr Cash 10,000

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.