Which Statement Is false

question 93

Multiple Choice

Which statement is false?

• A)Taking a physical inventory involves actually counting, weighing, or measuring each kind of inventory on hand.
• B)No matter whether a periodic or perpetual inventory system is used, all companies need to determine inventory quantities at the end of each accounting period.
• C)An inventory count is generally more accurate when goods are not being sold or received during the counting.
• D)Companies that use a perpetual inventory system must take a physical inventory to determine inventory on hand on the balance sheet date and to determine cost of goods sold for the accounting period.

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Definitions:

Grapevine

An informal communication network within an organization, spreading information through personal contacts and conversations.

Informal Communication

A form of communication that is not formal or structured, including casual conversations, gossip, and social interactions within an organization.

Public Relations Crisis

A public relations crisis is a situation that could cause public outrage or dissatisfaction, significantly affecting an organization's reputation.

Feedback

A process in which information about the past or present influences the same phenomenon in the present or future.