Which Statement Is Not Correct About Perpetual Inventory Systems

question 110

Multiple Choice

Which statement is not correct about perpetual inventory systems?

• A) The balance in the Inventory account is always up-to-date.
• B) A physical inventory count is not required.
• C) Current information is available for cost of goods sold.
• D) The Inventory account is updated for each purchase and sale.

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Definitions:

Customer Needs

The explicit and implicit factors that a customer seeks to fulfil when buying a product or a service.

Marketing Strategy

A business's overall game plan for reaching prospective consumers and turning them into customers of their products or services.

Business Portfolio

The collection of businesses, investments, products, or services that a company owns or operates, strategically managed to achieve optimal performance.

Competitive Advantages

Attributes that allow an organization to outperform its competitors, including product quality, brand, cost structure, and customer loyalty.