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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The sharing of information within and outside of a company to support its commercial objectives.

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