Under the Periodic Inventory System,in Addition to Making the Entry

question 16

Multiple Choice

Under the periodic inventory system,in addition to making the entry to record a sale,a company would:

• A)debit Merchandise Inventory and credit Cost of Goods Sold.
• B)debit Cost of Goods Sold and credit Merchandise Inventory.
• C)debit Cost of Goods Sold and credit Purchases.
• D)make no additional entry.

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Definitions:

Packet Filtering

A method used by firewalls to control network access by monitoring outgoing and incoming packets and allowing them to pass or halt based on the source and destination IP addresses, protocols, and ports.

Biometric Authentication Device

A device that uses some unique characteristic of human biology to identify authorized users.

CAPTCHA

A system designed to distinguish human from machine input, typically as a way of thwarting spam and automated extraction of data from websites.

Firewall

A security system for networks that oversees and manages inbound and outbound traffic according to established security protocols.