The Tracking of Inventory Shrinkage Due to Theft,damage,or Errors Is

question 100

Multiple Choice

The tracking of inventory shrinkage due to theft,damage,or errors is done with the help of a (n) ________ of inventory.

• A) authorization
• B) sale
• C) physical count
• D) delivery

---

Definitions:

Financial Statements

These are formal records that detail a company's financial activities and condition, typically including the balance sheet, income statement, and cash flow statement.

Adjustments

Modifications made to financial records or statements to correct errors, account for accruals, or align with accounting principles.

Adjusting Entries

Entries made in accounting at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Post-Closing Trial Balance

A listing of all company accounts that remain after closing entries are made, used to check the accuracy of closing procedures and the balance of permanent accounts.