The Inventory System That Uses Computer Software to Keep a Running

question 115

Multiple Choice

The inventory system that uses computer software to keep a running record of inventory on hand is the:

• A)cost of goods sold inventory system.
• B)periodic inventory system.
• C)perpetual inventory system.
• D)hybrid inventory system.

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Definitions:

Deed of Trust

A document that conveys title to real property to a trustee as security for a loan until the grantor (borrower) pays the lender according to the terms of a loan.

Mortgage

A loan secured by the collateral of real estate property, where the borrower is obliged to pay back with a predetermined set of payments.

Trustee

A person or firm that holds and administers property or assets for the benefit of a third party.

Creditor

An individual or institution to whom money is owed.