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contra asset account.
expense account.
asset account.
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Multiple Choice Question 179
On October 4, 2013, JT Corporation had credit sales transactions
of $3,200 from merchandise having cost $1,900. The entries to
record the day’s credit transactions include a
credit of $1,900 to Cost of Goods Sold.
credit of $3,200 to Sales Revenue.
debit of $1,900 to Inventory.
debit of $3,200 to Inventory.
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IFRS Multiple Choice Question 257
Comprehensive income under IFRS
excludes unrealized gains and losses included in net income, in
contrast to GAAP.
includes unrealized gains and losses included in net income,
similar to GAAP.
excludes unrealized gains and losses included in net income,
similar to GAAP.
includes unrealized gains and losses included in net income, in
contrast to GAAP
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