If a Company Uses a Perpetual Inventory System,it Will Maintain

question 29

Multiple Choice

If a company uses a perpetual inventory system,it will maintain all the following accounts except:

• A)cost of goods sold.
• B)inventory.
• C)sales.
• D)purchases.
• E)All of the above accounts are used with a perpetual inventory system.

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Definitions:

Diminishing Returns

A principle stating that if one factor of production is increased while other factors are held constant, the incremental output gained will eventually decrease.

Study Time

The amount of time allocated towards learning or academic activities outside formal teaching sessions.

Learning Process

A complex activity involving the acquisition of knowledge, skills, behaviors, or values, often through study, experience, or teaching.

Additive Manufacturing

A process of creating objects by adding layer upon layer of material, commonly referred to as 3D printing.