At the End of Its Year 1 Accounting Period, Voss

question 98

Multiple Choice

At the end of its Year 1 accounting period, Voss Company had a $35,000 balance in its inventory account. Even so, when the company took a physical count of the inventory, it found only $34,300 of inventory on hand. Which of the following shows how recognizing the inventory shrinkage will affect the Company's financial statements?

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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Definitions:

Association

A connection or link between thoughts, ideas, or concepts, often used in psychology to explain memory and learning processes.

Punishers

Stimuli that follow a behavior and decrease the likelihood of that behavior being repeated in the future.

Unconditioned Stimuli

In classical conditioning, a stimulus that innately and instinctively elicits a reaction without any previous learning.

Negative Reinforcers

Stimuli that, when removed after a particular behavior, increase the likelihood of that behavior being repeated in the future.