All of the Following Statements Are True Regarding the Periodic

question 74

Multiple Choice

All of the following statements are true regarding the periodic inventory system except

• A)Under the periodic inventory system, the balance of cost of goods sold is calculated at the end of the period.
• B)Under the periodic inventory system, the balance in ending inventory is calculated at the end of the period.
• C)Using the periodic inventory system affects the balance sheet contents differently than when the perpetual system is used.
• D)Under the periodic system, a company uses separate accounts to record freight costs, returns, and discounts.

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Definitions:

Self-handicapping

A cognitive strategy where individuals create obstacles and excuses to avoid self-blame when they do not meet expectations.

Self-handicappers

Individuals who deliberately create obstacles or excuses for themselves so that if they do poorly, they can avoid blaming their own ability.

Adjustment to College

The process by which students acclimate to the academic, social, and cultural demands of college life.

Self-handicapping

A behavior or action taken to excuse potential failure or poor performance in advance.