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:

Enantiomer

Molecules that are mirror images of each other but cannot be overlaid onto each other, much like left and right hands.

Meso Compound

A type of stereochemical isomer with multiple stereocenters that is superimposable on its mirror image, making it achiral despite containing chiral centers.

Diastereomers

Isomers that have a different spatial orientation of atoms but are not mirror reflections of each other.

Meso Form

A stereoisomer with multiple stereocenters that is superimposable on its mirror image, thus being optically inactive.