A Company That Uses the Perpetual Inventory System Sold Goods $$\begin{array} { | c | r | r | } \hline \text { Cost of Goods Sold } & 2,300 & \\\hline \text { Sales Revenue } & & 2,300 \\\hline\end{array}$$

question 94

Multiple Choice

A company that uses the perpetual inventory system sold goods to a customer on account for $2,300.The cost of the goods sold was $1,150.Which of the following journal entries correctly records this transaction?

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Cost of Goods Sold } & 2,300 & \\
• \hline \text { Sales Revenue } & & 2,300 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Merchandise Inventory } & 2,300 & \\
• \hline \text { Cost of Goods Sold } & & 2,300 \\
• \hline
• \end{array}\]
• C) \(\begin{array}{|l|l|l|}
• \hline\text { Accounts Receivable } & 2,300 & \\
• \hline \text { Cash } & & 2,300 \\
• \hline \text { Cost of Goods Sold } & 1,150 & \\
• \hline \text { Merchandise Inventory } & & 1,150 \\
• \hline
• \end{array}\)
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Accounts Receivable } & 2,300 & \\
• \hline \text { Sales Revenue } & & 2,300 \\
• \hline \text { Cost of Goods Sold } & 1,150 & \\
• \hline \text { Merchandise Inventory } & & 1,150 \\
• \hline
• \end{array}\]

Understand different strategic directions (e.g., Turnaround, Defensive, Diversification, Passive, Aggressive) and their applicability in various scenarios.

Comprehend the major characteristics of effective marketing objectives.

Acknowledge the importance of converting weaknesses into strengths or managing them as limitations.

Realize the critical role of setting and aligning goals and objectives in strategic marketing planning.

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