Under a Perpetual Inventory System, the Amount of Each Type

question 163

Multiple Choice

Under a perpetual inventory system, the amount of each type of merchandise on hand is available in the

• A) customer's ledger
• B) creditor's ledger
• C) inventory ledger
• D) purchase ledger

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Definitions:

Direct Evidence

Evidence that directly proves a fact without the need for any inference or presumption, such as testimony from a witness about what they personally observed.

Circumstantial Evidence

Evidence that relies on an inference to connect it to a conclusion of fact, such as a fingerprint at the scene of a crime, rather than direct evidence like eyewitness testimony.

Existence

The state or fact of being real, present, or in operation.

Circumstantial Evidence

Indirect evidence that implies a fact but does not directly prove it.