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:

Mature Foreign Films

Movies from countries other than one's own that are intended for an adult audience, often dealing with complex themes and situations.

Residuals

Royalties paid by contract to actors when their filmed work is aired on television or digital medium or when their television work is rerun or shown in syndication.

Negotiating Tool

A method or resource employed during negotiations to persuade or influence the outcome in one's favor.

New Media Forms

Emerging or contemporary types of media that utilize digital technology to deliver content, including social media, websites, digital art, and virtual reality experiences.