Which of the Following Best Describes Inventory Item Linked Accounts

question 14

Multiple Choice

Which of the following best describes inventory item linked accounts -

• A)when you purchase the item,the asset account is debited
• B)when you sell the item,the revenue account is credited
• C)when you sell the item,the cost of goods sold account is debited
• D)all of the above

---

Definitions:

Barbary Leaders

The rulers of the Barbary States in North Africa, known in the early modern period for their engagement in piracy and slave trade, impacting European and American shipping.

Pirating

The unauthorized use, reproduction, or distribution of copyrighted or patented material.

Tribute

A payment made periodically by one state or ruler to another, especially as a sign of dependence.

Battle of New Orleans

The final major battle of the War of 1812, fought between British forces and American troops led by General Andrew Jackson in January 1815, resulting in a decisive American victory.