Which of the Following Statements Is True

question 178

Multiple Choice

Which of the following statements is true?

• A)Inventory data can be identified and controlled better under the perpetual system.
• B)Inventory can only be sold at the end of an accounting period under the periodic system.
• C)There is no difference in cost to implement a perpetual as compared to a periodic system.
• D)The perpetual system eliminated the need for an annual inventory count.

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Definitions:

Overconfident

Having an excessively high opinion of one's abilities, performance, or situation, often without adequate justification.

Negotiator

A person involved in discussions aimed at reaching an agreement or resolving a conflict between parties.

Principled Negotiation

Principled negotiation is a negotiation strategy that emphasizes mutual interests, fair standards, and objective criteria in the negotiation process, aiming for a win-win outcome for all parties involved.

Objective Standard

A criterion that is not influenced by personal feelings or opinions and can be independently verified.