Which of the Following General Statements About Inventory Is True

question 3

Multiple Choice

Which of the following general statements about inventory is true -

• A) Sage 50 Accounting uses a weighted average perpetual inventory method as the default method of costing
• B) the selling price refers to a single unit, while value refers to cost of the entire stock
• C) a variance account adjusts the difference between cost of an item sold and the new purchase price
• D) all of the above

---

Definitions:

Maintenance

The process of preserving or keeping equipment, systems, or facilities in effective operating condition through routine checks and repairs.

Range Cylinder

Refers to a component in hydraulic or pneumatic systems that determines the range of movement or force exerted by the system, often by specifying the maximum extendable length of the cylinder.

Yoke Bar

A component in mechanical systems used to connect two moving parts, such as in the suspension or driveshaft of a vehicle.

Fork

A tool or machine part with two or more prongs, used for lifting, carrying, or positioning objects.