Multiple Choice
O'Hare Company, is a manufacturing firm that uses a job-order cost system to determine the costs of its products. On January 1, O'Hare purchased $3,000 of raw materials with cash. The entry to record the purchase of raw materials would:
A) Increase total assets.
B) Decrease total assets.
C) Have no impact on total assets.
D) Decrease net income.
Correct Answer:
Verified
Correct Answer:
Verified
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