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For several years a client's physical inventory count has been lower than what was shown on the books at the time of the count so that downward adjustments to the inventory account were required. Contributing to the inventory problem could be weaknesses in internal control that led to the failure to record some

A. Sales returns received.

B. Purchases returned to vendors.

C. Sales discounts allowed.

D. Cash purchases.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9430215

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