Which One of the Following Statements Concerning the Periodic and Perpetual

question 72

Multiple Choice

Which one of the following statements concerning the periodic and perpetual inventory systems is true?

• A) The periodic system uses a purchases account.
• B) Inventory controls are only needed for the periodic inventory systems.
• C) None of the accounting entries vary between the two systems.
• D) Due to advances in computers, many businesses recently have begun to use the periodic inventory system.

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Definitions:

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