The General Ledger Shows a Balance of $65 300 in the Inventory

question 41

Multiple Choice

The general ledger shows a balance of $65 300 in the Inventory account at the end of the period. A physical inventory shows a count of $67 900. The adjusting entry would be a:

• A)debit to Cost of sales and a credit to Cash.
• B)debit to Inventory and a credit to Cash.
• C)debit to Inventory and a credit to Cost of sales.
• D)debit to Cost of sales and a credit to Inventory.

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Definitions:

Position Power

The authority and influence a person holds in an organization by virtue of the position they occupy, rather than personal attributes or expertise.

Reward Power

Reward power is the capacity to offer something of value as a way of influencing other people.

Positive Outcomes

Favorable results achieved after the implementation of a plan, strategy, or action.

Organisational Goals

The objectives or targets that an organization aims to achieve, which guide its operational and strategic decisions.