At the End of the Accounting Period, the Correct Entry

question 22

Multiple Choice

At the end of the accounting period, the correct entry in the general journal to adjust for ending inventory is to

• A) debit Merchandise Inventory and credit Unearned Revenue.
• B) debit Income Summary and credit Merchandise Inventory.
• C) debit Merchandise Inventory and credit Income Summary.
• D) debit Other Revenue and credit Income Summary.

---

Definitions:

Not Personally

An approach or reaction that is detached from personal feelings or emotions, typically in a professional context.

Grievance Procedure

A formalized process through which employees can report and resolve conflicts or complaints in the workplace.

Informal Process

A method or procedure that is not officially defined or structured, often allowing for flexibility and adaptability.

Resolving Conflict

The process of identifying and addressing differences that could lead to disagreements in a constructive and positive manner.