Failure to record inventory in the proper period can affect all of the following accounts except:
A) Sales.
B) Receivables.
C) Cost of Goods Sold.
D) Prepaid Expenses.

Question

Quizplus · Accepted Answer

Failure to record inventory in the proper period affects the cost of goods sold because it will not be properly calculated, and it can also affect sales revenue and accounts receivables if inventory is not properly accounted for. However, it will not affect prepaid expenses as they are recorded separately and do not depend on inventory.

Failure to Record Inventory in the Proper Period Can Affect