"Shrinkage" is another term for inventory loss due to theft,error,or fraud.
BT: Knowledge
Correct Answer:
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Q89: An employee authorised to sign cheques may
Q90: A periodic inventory system does not require
Q91: Only companies that use a periodic inventory
Q92: After preparing a bank reconciliation,no adjusting journal
Q93: A periodic inventory system does not track
Q95: Most companies report their sales revenue and
Q96: Credit terms of "2/10,n/30" mean that if
Q97: Customers are the biggest source of shrinkage
Q98: NSF (Not Sufficient funds)cheques are deducting from
Q99: NSF cheques are recorded as accounts payable.
BT:
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