Inventories Are Estimated

question 77

Multiple Choice

Inventories are estimated

• A) more frequently under a periodic inventory system than a perpetual inventory system.
• B) using the wholesale inventory method.
• C) more frequently under a perpetual inventory system than the periodic inventory system.
• D) using the net method.

---

Definitions:

Budget Deficit

The condition in which a nation spends more than it takes in from taxes.

Agricultural Commodities

Products derived from agriculture such as grains, livestock, and dairy that are traded on various commodity exchanges.