The perpetual inventory system:（ ）。
A: is used by most businesses.
B: other three choices are true.
C: keeps a continuous record for each inventory item.
D: requires an annual count of inventory on hand.
A: is used by most businesses.
B: other three choices are true.
C: keeps a continuous record for each inventory item.
D: requires an annual count of inventory on hand.
举一反三
- Translate the following special terms into Chinese. "perpetual inventory system 、periodic inventory system "
- Under a perpetual inventory system:
- (3) Which one of the following statement is NOT correct? A: Periodic inventory system is more expensive to operate and less common. B: Perpetual inventory system could help discover pilferage more quickly owing to frequent counts. C: In periodic inventory system, inventory account is update only periodically via period- end inventory count. D: Periodic inventory system might lead to lost sales.
- When using a perpetual inventory system, A: no Purchases account is used. B: a Cost of Goods Sold account is used. C: two entries are required to record a sale. D: All of these.
- What is the difference between the periodic and perpetual inventory systems