Under a Perpetual Inventory System

question 180

Multiple Choice

Under a perpetual inventory system,

• A)accounting records continuously disclose the amount of inventory.
• B)increases in inventory resulting from purchases are debited to purchases.
• C)there is no need for a year-end physical count.
• D)the account purchase returns and allowances is credited when goods are returned to vendors.

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Definitions:

Business Cycles

Fluctuations in economic activity over time, characterized by periods of expansion (growth) and contraction (recession) in the economy.

CPFR Process

Collaborative Planning, Forecasting, and Replenishment, a process where supply chain partners share forecasts and plans to enhance supply chain efficiency.