Which Account Would Always Be Used for an Inventory Adjustment

question 46

Multiple Choice

Which account would always be used for an inventory adjustment?

• A)Sales
• B)Purchase Returns and Allowances
• C)Cost of Goods Sold
• D)Cash

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Definitions:

Promotional Strategy

A plan to increase awareness, sales, and market share for a product or service through advertising, sales promotions, public relations, and personal selling.

Car Lubricant

A substance used in vehicles to reduce friction, heat, and wear between mechanical components that are in contact.

Sticker

A type of adhesive label or decoration which can be attached to surfaces for informational or decorative purposes.

Nonpersonal Selling

A promotional method using advertising, sales promotions, and other mass-market approaches to sell products, as opposed to direct, face-to-face sales.