A Company That Uses the Perpetual Inventory System Sold Goods $$\begin{array} { | c | r | r | } \hline \text { Cost of Goods Sold } & 800 & \\\hline \text { Sales Revenue } & & 800 \\\hline\end{array}$$

question 22

Multiple Choice

A company that uses the perpetual inventory system sold goods for $2,400 to a customer on account.The company had purchased the inventory for $800.Which of the following journal entries correctly records the cost of goods sold?

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Cost of Goods Sold } & 800 & \\
• \hline \text { Sales Revenue } & & 800 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Merchandise Inventory } & 800 \\
• \hline \text { Cost of Goods Sold } & & 800 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Cost of Goods Sold } & 800 & \\
• \hline \text { Merchandise Inventory } & & 800 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | c | r | r | }
• \hline \text { Accounts Receivable } & 800 & \\
• \hline \text { Sales Revenue } & & 800 \\
• \hline
• \end{array}\]

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Definitions:

Job Characteristics Model

A theory that proposes that the nature of a person's job or the characteristics of the organization predominantly determines their levels of motivation, satisfaction, and performance at work.

Internal Work Motivation

The intrinsic drive that inspires employees to achieve excellence in their tasks, often linked to personal satisfaction and fulfillment derived from the job itself.

Compensation Satisfaction

The degree of contentment an employee feels regarding their financial and non-financial rewards for their job.

Context Satisfaction

Context satisfaction refers to an individual's satisfaction with aspects of their work environment outside of the job itself, such as company culture, work conditions, and management practices.