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Match Each Numbered Entry with the Most Relevant Lettered Entry

question 5

Multiple Choice

Match each numbered entry with the most relevant lettered entry below.
-mixing together


Definitions:

Periodic Inventory

An accounting method where inventory is physically counted at specific intervals to determine the cost of goods sold and ending inventory.

Transactions

The act of buying, selling, or exchanging goods, services, or financial assets in the business world.

Inventory

The total of all goods and materials held by a business for the purpose of resale, production, or use in operations.

Purchases

The acquisition of goods or services for the purpose of resale or use in the production of goods for sale.

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