Mary Monitor,CPA,noted That ABC Co

question 97

Multiple Choice

Mary Monitor,CPA,noted that ABC Co.received goods prior to year-end that were included in physical inventory but had not been recorded.In this case,which of the following adjustments should be made?

• A)Debit Purchases/credit Cost of Goods Sold.
• B)None.
• C)Debit Inventory/credit Accounts Payable.
• D)Debit Cost of Goods Sold/credit Accounts Payable.

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Definitions:

Cultures

The customs, social behaviors, values, and material traits of a societal group or community.

Respect

An attitude of admiration or esteem towards a person, entity, or concept, often due to their abilities, qualities, or achievements.

Clarifying

Clarifying involves making something less confusing and more comprehensible through explanation or additional information.

Cultures

Cultures refer to the shared values, beliefs, norms, and practices of a group of people, often tied to a particular geographic region or social group.