The Physical Count of Inventory of Clyers Pty Ltd, a Medium-Sized

question 31

Multiple Choice

The physical count of inventory of Clyers Pty Ltd, a medium-sized retailer, was higher than shown by the perpetual records.Which of the following could explain the difference?

• A)Credit memos for several items returned by customers had not been recorded.
• B)Inventory items had been counted but the tags placed on the items had not been taken off the items and added to the inventory accumulation sheets.
• C)An item purchased 'FOB shipping point' had not arrived at the date of the inventory count and had not been reflected in the perpetual records.
• D)No journal entry had been made on the retailer's books for several items that the retailer returned to its suppliers.

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Definitions:

Scholarly Influence

Refers to the impact or effect that academic works or scholars have on their fields, shaping research, theory, and practice.

Delineates Relationships

Means to clearly outline or describe the nature of relationships, often used in social sciences to explain how individuals or groups are connected.

Intentionally Reveal

The deliberate act of disclosing or exposing information that was previously unknown or hidden.

Form Interactions

The way in which different forms or elements influence or work with each other, often in the context of design or art.