A Web Site Created by Sue,a Marine-Life Photographer,is in the Form

question 108

Multiple Choice

A Web site created by Sue,a marine-life photographer,is in the form of a journal in which she posts entries in chronological order,and often includes the option for visitors to add comments to her journal entries and photographs.This is an example of a ____.

• A)podcast
• B)social networking site
• C)Wiki
• D)blog

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Definitions:

Periodic Inventory

An inventory accounting system where inventory levels and cost of goods sold are determined at the end of an accounting period.

Perpetual Inventory System

An accounting approach to continuously track inventory levels, purchases, and sales, updating the inventory records in real-time.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated using either a periodic or perpetual inventory system.

Inventory Method

The approach a business uses to value its inventory and determine the cost of goods sold, such as FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).