Which Statement Is Correct for About Inventory Systems

question 27

Multiple Choice

Which statement is correct for about inventory systems?

• A)The periodic inventory system provides more information to allow an enterprise to better manage its inventories.
• B)Cost of goods sold is a not a calculated number under the periodic inventory system.
• C)The final amounts reported in statements are the same under both the periodic and perpetual systems.
• D)The periodic inventory system continuously updates information about the amount of inventory on hand.

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Definitions:

Revenue

Revenue is the total amount of income generated by the sale of goods or services related to a company's primary operations.

Debt Burden

The impact of debt on an entity's finances, often measured as the ratio of debt to income or GDP, indicating the entity's ability to repay.

Cherokees

A Native American people originally from the southeastern United States, forcibly relocated in the 1830s to what is now Oklahoma in the event known as the Trail of Tears.

Carolina

Carolina was originally a British colony in North America, which was later divided into North Carolina and South Carolina in the early 18th century.