For Each of the Following Accounts,indicate What Event Causes the Account

question 179

Essay

For each of the following accounts,indicate what event causes the account to increase and to decrease.The answer is not debit or credit.
$$\begin{array} { | l | l | l | } \hline \text { Account } & \text { Is increased by: } & \text { Is decreased by: } \\\hline \text { Raw Materials } & & \\\text { Inventory } & & \\\hline \text { Work-in-Process } & & \\\text { Inventory } & & \\\hline \text { Finished Goods } & & \\\text { Inventory } & & \\\hline \text { Cost of Goods Sold } & & \\\hline\end{array}$$

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Definitions:

Estate System

A system of stratification in which the ownership of property and the exercise of power is monopolized by an elite or noble class that has total control over societal resources.

Caste System

A hierarchical social stratification system found in some societies, where individuals' status is determined by birth and remains fixed for their lifetime.

Class Systems

Hierarchical social categories based on factors like wealth, occupation, and education, influencing individuals' opportunities and social interactions.

Overlapping Systems

Intersecting social categorizations such as race, class, and gender, affecting an individual's or group's experience and opportunities.