Which One of the Following Statements Is Not True

question 85

Multiple Choice

Which one of the following statements is not true?

• A)A company using the periodic system does not maintain a continuous record of the physical quantities (or costs)of inventory on hand.
• B)In the periodic system, the costs of acquisition of inventory are debited directly to an inventory account.
• C)In the perpetual inventory system, recording in detailed subsidiary records can be in units only¾not in dollar costs.
• D)When the perpetual system is used, a physical count still needs to be made periodically.

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