The Device That Stores Information Permanently (Unless the Device Becomes

question 23

True/False

The device that stores information permanently (unless the device becomes unusable or you change the information by rewriting it) is called primary storage.

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Definitions:

Ending Inventory

The overall worth of products on hand for sales at the closure of an accounting cycle.

Inventory Items

Specific objects or products that are part of a company's inventory, available for sale or used in production.

Gross Profit

The difference between revenue and the cost of goods sold (COGS), indicating the profit made from sales before deducting operating expenses.

Beginning Inventory

The initial value of goods available for sale at the start of an accounting period.