Question: The adjusting entry to recognize the write down of inventory based on the lower-of-cost-or-market rule will ....... Multiple Choice decrease the amount of liabilities. decrease

The adjusting entry to recognize the write down of inventory based on the lower-of-cost-or-market rule will .......

Multiple Choice

decrease the amount of liabilities.

decrease the cash flow from operating activities.

increase the amount of expenses.

increase the amount of assets.

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