Which of the Following Does Not Correctly Describe a Periodic

question 5

Multiple Choice

Which of the following does not correctly describe a periodic inventory accounting system?

• A)In a periodic system cost of goods sold are calculated every time a sale is made.
• B)In a periodic system, costs of goods sold are a residual amount.
• C)In a periodic system assuming a FIFO cost flow, the cost of goods sold would equal those from a perpetual system
• D)In a periodic system, inventory and cost of goods sold must be updated at the end of

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Definitions:

Nontraining Setting

Environments or contexts outside of designated training or educational spaces where learning or behavior modification can still occur.

Learning Strategy Interventions

Techniques or programs designed to improve cognitive processes and skills, such as note-taking, summarizing, and self-questioning, to enhance learning effectiveness.

Learning Disabilities

Neurologically based processing problems that can interfere with learning basic skills such as reading, writing, or math, as well as higher-level skills like organization, time planning, and abstract reasoning.

Square-root Rule

A mathematical formula used in inventory management to estimate the impact of changing the number of locations on inventory levels.