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H3Ko H3Ko
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7 years ago
When goods are transferred from the Work-in-Process Inventory account to the Finished Goods Inventory account, ________.
A) total liabilities increase and total equity decreases by the same amount
B) total equity and total assets increase by the same amount
C) total assets of the company remain constant
D) total assets and total liabilities increase by the same amount
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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