The Inventory Account Balance Is $50,000

question 43

Multiple Choice

The Inventory account balance is $50,000.An actual count of inventory reveals that actual inventory is $42,000.Which of the following would be included in the adjusting entry? (Assume a perpetual inventory system. )

• A)a $8000 credit to Cost of sales
• B)a $8000 credit to Inventory
• C)a $42,000 credit to Inventory
• D)a $50,000 debit to Cost of sales

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Definitions:

Medical Technology

The use of technology and devices in the practice of medicine to diagnose, treat, and monitor diseases and conditions.

Society

A group of individuals involved in persistent social interaction, or a large social group sharing the same geographical or social territory, typically subject to the same political authority and dominant cultural expectations.

Respite Care

Temporary care provided to patients or clients, intended to give relief to their usual caregivers.

Caregivers

Caregivers are individuals who provide direct care and support to people with health-related needs or disabilities, including family members or professional health care providers.