To Record the Adjustment for Supplies on the Worksheet, a Credit

question 95

True/False

To record the adjustment for supplies on the worksheet, a credit is made to Supplies for the beginning supply balance, and a debit for the same amount is made to Income Summary.

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Definitions:

Repertory Grid

A technique used in personal construct psychology to assess and evaluate an individual's way of construing or understanding the world and people around them.

Corollaries

Propositions that follow from and are often appended to a theorem or proposition that has already been proven.

Role Construct Repertory

A psychological tool used to help individuals identify how they construe significant persons in their lives, revealing their personal construct systems.

Validity

The degree to which an idea, conclusion, or measurement is grounded in reality and probably reflects the actual state of affairs accurately.