Match Each Definition with the Correct Term Below

question 46

Multiple Choice

Match each definition with the correct term below.
-Periodic inventory system

• A)An inventory system in which the inventory not yet sold or on hand is counted periodically.
• B)Management's regular assessment of the quality of internal control.
• C)An account that accumulates the total cost of merchandise purchased for resale during an accounting period.
• D)The policies and procedures that management puts into place to see that its directives are carried out.
• E)The seller bears the transportation costs to the place where merchandise is delivered and title passes at the time it is delivered.
• F)An inventory system in which continuous records are kept of the quantity and cost of individual items as they are bought and sold.
• G)The total cost of merchandise that could be sold in an accounting period.
• H)The buyer bears the shipping costs of merchandise and title passes at the time it is shipped.
• I)An account that gives management a readily available measure of unsatisfactory products and dissatisfied customers.
• J)Controls that limit access to assets.

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Definitions:

United States

A federal republic consisting of 50 states, a federal district, five major self-governing territories, and various possessions, known for its significant influence on world politics, economy, and culture.

Vietnam

A Southeast Asian country known for its beaches, rivers, Buddhist pagodas, and bustling cities.

Attributions

Attributions refer to the process by which individuals explain the causes of behavior and events, often as internal (personal traits) or external (situational factors).