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Adjusting Entries: Supplies
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Problem 9
Problem 10
Adjusting Entries: Supplies
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3. Accrual Accounting Concepts / Adjusting Entries: Supplies / Problem 9
Problem 9
Why is performing a physical inventory count crucial for adjusting entries of supplies?
A
It ensures the supplies account reflects the actual value of supplies remaining.
B
It is necessary for calculating depreciation of supplies.
C
It helps in calculating the total revenue generated from supplies.
D
It is required for tax purposes only.
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