The Inventory Account Balance Is $50,000

question 15

Multiple Choice

The inventory account balance is $50,000. An actual count of inventory reveals that actual inventory is $43,000. Which of the following would be included in the adjusting entry? (Assume a perpetual inventory system)

• A)a $43,000 credit to Merchandise Inventory
• B)a $50,000 debit to Cost of Goods Sold
• C)a $7,000 credit to Cost of Goods Sold
• D)a $7,000 credit to Merchandise Inventory

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Definitions:

External Noise

Refers to physical sounds and distractions from the environment that interfere with the communication process.

Confirming Response

A communication pattern that acknowledges and supports a person's self-concept, positively reinforcing personal identity.

Disconfirming Response

A communication pattern that invalidates or disregards another's opinions or feelings.

Confirming

Affirming or validating someone's feelings or opinions.