If a Company Determines Cost of Goods Sold Each Time

question 135

Multiple Choice

If a company determines cost of goods sold each time a sale occurs, it

• A)must have a computerized accounting system.
• B)uses a combination of the perpetual and periodic inventory systems.
• C)uses a periodic inventory system.
• D)uses a perpetual inventory system.

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Definitions:

Erectile Tissue

Tissue in the body capable of becoming rigid and engorged with blood, primarily found in the penis and clitoris.

Clitoris

An erectile organ located at the anterior junction of the labia minora.

Labia

The external folds of skin surrounding the openings of the vagina, divided into the labia majora and the labia minora.

Vestibule

A vestibule often refers to a small entryway or antechamber between the exterior and interior of a building.