Assuming the Use of the Perpetual Inventory Method Which of These

question 44

Multiple Choice

Assuming the use of the perpetual inventory method which of these entries would be a closing entry at the end of the accounting period?

• A) Debit inventory; credit profit or loss summary
• B) Debit profit or loss summary; credit cost of sales
• C) Debit profit or loss summary; credit purchases
• D) Debit profit or loss summary; credit inventory

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Definitions:

Verbal Self-Control

The ability to regulate one's behavior, thoughts, and emotions through the use of language and self-talk.

Lev Vygotsky

A Soviet psychologist known for his work on cognitive development, particularly the social development theory, which emphasizes the cultural/contextual influence on cognitive growth.

Restrained

Restrained refers to being held back, controlled, or limited in some manner, whether physically, emotionally, or socially.

Inner Speech

An internal dialogue that individuals have with themselves, which can influence thinking and behavior.