Which of the Following Does NOT Correctly Describe a Perpetual

question 39

Multiple Choice

Which of the following does NOT correctly describe a perpetual inventory system?

• A) Cost of goods sold is calculated every time a sale is made.
• B) Assuming shrinkage of zero, inventory and cost of goods sold do not have to be updated at the end of the period.
• C) The use of this system eliminates the requirement for an annual physical inventory count.
• D) Assuming a FIFO cost flow, cost of goods sold would equal that calculated by the periodic system.

---

Definitions:

Compound Name

The systematic or common naming of chemical compounds based on their structure and the nomenclature rules of chemistry.

Spin-Spin Splitting

A phenomenon in NMR spectroscopy where a nucleus's magnetic field is split by the magnetic fields of neighboring nuclei.

Chemical Shift

A term used in nuclear magnetic resonance (NMR) spectroscopy to describe the change in magnetic resonance frequency of a nucleus due to its chemical environment.

Sample Proportions

The fraction or percentage of the sample that represents a particular trait or characteristic of interest.