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:

Congenital

A condition existing at the time of birth.

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The process of giving life whereby an offspring is expelled from the body of its mother.

Congenital Pes Planus

A condition present at birth where the arch on the inside of the feet is flattened, allowing the entire sole to touch the ground when standing.

Family Tree Analysis

A method used to study diseases or conditions within a family by charting the relationships and health history of family members over generations.