Examlex
Which of the following terms best describes the process of sending and receiving verbal and nonverbal messages between two or more people?
Periodic Inventory System
An inventory accounting system where updates to inventory levels are made at specific intervals and not recorded in real-time after each sale or purchase.
Periodic Inventory System
An inventory accounting system where updates to inventory levels are made periodically, typically at the end of a reporting period.
Periodic
In accounting, periodic refers to a system or method where financial information and inventory levels are updated at specific intervals, rather than continuously.
Purchases
The total amount spent on goods and materials bought for resale or use in production during an accounting period.
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