A Returned Asset Should Be Recorded

question 99

Multiple Choice

A returned asset should be recorded

• A) as a direct reduction to inventory.
• B) in a separate account from inventory.
• C) at the same value it was sold for, without considering impairment.
• D) Silly question, returned assets aren't recorded.

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Definitions:

Exponentially

At a rapidly increasing rate, where growth becomes quicker and more significant with each passing stage.

Alzheimer's

A degenerative brain disease causing a progressive loss of memory and cognitive function; the most common cause of dementia.

Name

A word or set of words by which a person, object, place, or concept is known and addressed.

Identify

The process of recognizing or establishing the identity of a person or thing.