Unrealised Profit in the Opening Inventories of a Financial Period

question 22

Multiple Choice

Unrealised profit in the opening inventories of a financial period is adjusted in the consolidation worksheet by a:

• A) debit to retained earnings.
• B) credit to retained earnings.
• C) credit to inventories.
• D) debit to inventories.

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Definitions:

Persuaded

Successfully convinced someone to do or believe something through reasoning or argument.

Audience

The group of people targeted or reached by a piece of communication, performance, or work.

Clan Culture

A type of corporate culture that emphasizes family-like relations, teamwork, and loyalty within the organization.

Coordinators

Individuals or roles designated to organize, schedule, and manage activities and resources to ensure efficient operation and achievement of goals.