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:

Virtues

Moral excellences and qualities deemed to be good and desirable in a person, such as honesty, courage, and kindness.

Community Life

The aspect of social life that is concerned with the quality of interactions and relationships within a community setting.

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An ethical theory that emphasizes the moral importance of caring and nurturing relationships, focusing on responsiveness to the needs of others.

Abstract Theorizing

The process of thinking and theorizing in a way that is detached from practical considerations or concrete instances.