If a Company Does Not Update the Inventory and Cost

question 31

Multiple Choice

If a company does not update the inventory and cost of goods sold accounts during the period, it means company is using:

• A) the periodic inventory system.
• B) the perpetual inventory system.
• C) both the periodic and the perpetual inventory system.
• D) neither the periodic nor the perpetual inventory system.

---

Definitions:

Pleasure

The sensation of happiness, enjoyment, or satisfaction derived from an experience.

Perspective

A particular attitude towards or way of regarding something; a point of view.

Scaffolding

An educational approach that provides support to students tailored to their learning needs, enabling them to achieve higher levels of understanding.

Authoritarian Parenting

A restrictive, punitive parenting style in which the parent exhorts the child to follow the parent’s directions and to value hard work and effort.