Accountıng I Deneme Sınavı Sorusu #1313790

If the merchandise inventory is sold, its cost is taken from inventory account in balance sheet and recognized as an _____ in the income statement.

Which of the following best completes the statement above?


Beginning inventory

purchase

Expense

Revenue

Balance


Yanıt Açıklaması:

If the merchandise inventory is sold, its cost is taken from inventory account in balance sheet and recognized as an expense (cost of goods sold) in the income statement.

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