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The preparation of an adjusting journal entry which consists of a Debit to Cost of Goods Sold and a Credit to Merchandise Inventory is an
The preparation of an adjusting journal entry which consists of a Debit to Cost of Goods Sold and a Credit to Merchandise Inventory is an example of which attribute of internal control?
Restricted access to assets | ||
Proper authorization of transactions | ||
Agreement between the amount per the books and the physical existence of the assets | ||
Segregation of duties | ||
Recording transactions so that they reflect their substance. |
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