Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 16 - No. 23)
What is the impact on 'Inventory' when goods are sold on credit?
Inventory increases.
Inventory decreases.
Inventory is not affected.
It depends on the terms of the sale.
Explanation
When goods are sold, inventory decreases because the items are no longer held by the seller.
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