After the Physical Inventory Is Completed

question 146

Multiple Choice

After the physical inventory is completed

• A) quantities are listed on inventory summary sheets.
• B) quantities are entered into various general ledger inventory accounts.
• C) the accuracy of the inventory summary sheets is checked by the person listing the quantities on the sheets.
• D) unit costs are determined by dividing the quantities on the summary sheets by the total inventory costs.

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Definitions:

Acoelomate

An animal lacking a body cavity (coelom). Compare with coelomate and pseudocoelomate.

Statocysts

Specialized sensory organs found in some animals, such as invertebrates, that help to maintain equilibrium and orientation relative to gravity.

Mollusks

A phylum of coelomate protostome animals characterized by a soft body, visceral mass, mantle, and foot.

Terrestrial

Pertaining to the Earth or its land, as opposed to aquatic or aerial environments.