When the direct method is used adjust cost to "market", what account is debited?
a) inventories
b) cost of goods sold
c) loss due to market decline of inventories
d) allowance to reduce inventory to market value
Answer: b) cost of goods sold
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Robert steals a truckload of plasma televisions that belong to Karson Electronics Store. He then resells it to Stu-Mart, which is unaware of the stolen nature of the goods. Karson Electronics Store then traces the plasma televisions to Stu-Mart
Robert is also arrested for the theft. Which of the following is true for Karson's legal course for reclaiming the televisions or recovering damages? A) Stu-Mart is a good-faith purchaser here and as such does not have to hand over the televisions to Karson. B) Stu-mart must hand over the televisions to Karson as its title to the goods is void. C) Karson's only recourse is against Robert to claim damages. D) Karson's cannot reclaim the goods, but can sue Stu-Mart for negligence and damages.
A view is a stored query or filter that represents a user's view of the data
Indicate whether the statement is true or false