Which One of the Following Statements Is False

question 160

Multiple Choice

Which one of the following statements is false?

• A)The inventory account is updated after every sale and after every merchandise purchase under the perpetual inventory system.
• B)The inventory account is updated only at the end of the accounting period under the periodic inventory system.
• C)A cost of goods sold account is updated after each sale of merchandise under the periodic inventory system.
• D)A purchases account is used only under the periodic inventory system.

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Definitions:

Major Depression

An emotional health issue identified by a constant depressed state or disinterest in normal activities, leading to substantial disruption in daily routines.

Bipolar Disorder

A mental health condition marked by extreme mood swings from high (manic) to low (depressive) episodes.

Chronic Fatigue Syndrome

A medical condition characterized by extreme fatigue that cannot be explained by any underlying medical condition and does not improve with rest.

Depression

A common and serious medical illness that negatively affects how you feel, the way you think, and how you act, characterized by feelings of sadness, loss of interest in activities, and a variety of emotional and physical problems.