Answer:
debit Work in Process Inventory, credit Raw Materials Inventory.
Explanation:
For reasons of accounting principles, the physical inventory must have priority to that of the continuous method; since the first constitutes information of greater objectivity and can therefore serve as a reference point to determine if there are missing or surpluses in the inventories, which after being well purified, can be adjusted through the cost of sale account and the inventory account accordingly if the permanent inventory turns out to be greater than the physical one, the cost of sale account must be <u>debited</u> for the amount of the difference, while the inventory account will receive a <u>credit</u> for the same value.
False. Your primary motivation for investing is for tax savings. Your motivation for investing money shouldn't solely be a tax break, you should always have a plan. When you invest, you should be thinking of why, in the future, investing was a good idea. Not the current little but of tax break you can get if the money goes in tax free. Always have a plan and a reason for investing your money into something.
Answer:
A. Injury
Explanation:
Given that for strict liability, the defendant is only liable to accidents he or she causes, that is to prove strict liability, the plaintiff must show
cause and damages. Whereas on negligence, it is required of a plaintiff to show duty, breach, cause, and injuries.
Hence, what must be shown to prove negligence that is not needed to prove strict is "Injury" as it covers a lot of factors including both cause and damages of strict liability.
In a periodic inventory system, the cost of goods sold is not recorded as each sale that occurs is a true statement.
<h3>Periodic Inventory System</h3>
- A physical count of the inventory is conducted at predetermined intervals as part of the periodic inventory system, a technique of inventory valuation for financial reporting reasons.
- In order to calculate the cost of goods sold, this accounting method starts with an inventory at the beginning of the period, adds fresh inventory purchases throughout the period, and subtracts ending inventory.
- A corporation using the periodic inventory system won't be aware of its unit inventory levels or COGS until the physical count process is finished.
- For a company with a small number of SKUs operating in a sluggish market, this method might be suitable, but for all other companies, the perpetual inventory system is preferred.
Hence, the given statement is true.
To learn more about Periodic Inventory System refer to:
brainly.com/question/17326443
#SPJ4
