Under a Perpetual Inventory System, the Entry to Record the Cost

question 99

Multiple Choice

Under a perpetual inventory system, the entry to record the cost of goods sold would include a debit to:

• A)Cost of Goods Sold and a credit to Inventory for the retail price of the inventory.
• B)Inventory and a credit to Sales Revenue for the retail price of the inventory.
• C)Cost of Goods Sold and a credit to Inventory for the cost of the inventory.
• D)Inventory and a credit to Cost of Goods Sold for the cost of the inventory.

Identify the influence of personal traits on leadership effectiveness.

Recognize the role of locus of control in leadership behavior.

Distinguish between managers and leaders based on their actions and outlook.

Identify behaviors associated with democratic, authoritarian, and laissez-faire leadership styles.

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