In a Time Series,high Sales in the Summer and Low

question 20

Multiple Choice

In a time series,high sales in the summer and low sales in the winter is called ________.

• A)secular trend
• B)seasonal variation
• C)cyclical variation
• D)variation

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Definitions:

Perpetual Inventory

An inventory management system where inventory quantities and costs are updated continuously with each sale or purchase transaction.

Accounts Payable

Liabilities of a business that represent its obligations to pay off a short-term debt to its creditors or suppliers.

Inventory

The overall quantity of products and resources that a business possesses, which are either for sale or to be utilized in manufacturing.

Perpetual Inventory

A continuous tracking system for inventory that records the sale or purchase of inventory in real-time through the use of computerized systems.