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Question 16 (5 points) Which of the following does not correctly describe the effect of recording a credit sale of inventory for a profit? O

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Question 16 (5 points) Which of the following does not correctly describe the effect of recording a credit sale of inventory for a profit? O Sales are recorded when title and risks of ownership are transferred to the buyer. O Current assets increase. O Cost of Goods Sold decrease. O Gross profit increases

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