Which of the Following Accounts Is Debited to Enter the Ending

question 63

Multiple Choice

Which of the following accounts is debited to enter the ending physical count of inventory under the periodic inventory system?

• A) Merchandise Inventory
• B) Income Summary
• C) Owner's Equity
• D) Purchases

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Definitions:

Manufacturing Defect

Refers to a flaw or imperfection in a product that occurs during its production, potentially making it unsafe or unusable.

"Reasonable"

A term used to denote actions or decisions that are logically sound, based on fair judgment and common sense.

Quality Control

The process of ensuring products and services meet customer expectations and regulatory requirements through consistent monitoring and testing.

Due Care

A standard of diligence that a reasonable person exercises to avoid harm to other persons or their property.