If a Company Uses a Periodic Inventory System, the Gross

question 141

True/False

If a company uses a periodic inventory system, the gross profit method can be used to estimate inventory for monthly or quarterly statements.

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Definitions:

Corporate Social Responsibility

A business model that helps a company to be socially accountable—to itself, its stakeholders, and the public—by practicing ethical and sustainable business practices.

Sustainable Development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs, typically focusing on balancing environmental, economic, and social welfare considerations.

Stakeholders

Individuals or groups that have an interest or stake in the outcomes of a project, decision, or organization.

Corporate Social Responsibility

A business model that helps a company be socially accountable—to itself, its stakeholders, and the public. By practicing CSR, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.