Which Statement Is Not Correct About the Perpetual Inventory System

question 110

Multiple Choice

Which statement is not correct about the perpetual inventory system for inventory management?

• A)This system keeps track of additions to and withdrawals from inventory.
• B)It is not necessary to conduct an inventory count if the perpetual system is used.
• C)This method produces timely information for management.
• D)With this method, the company knows the inventory on hand and the related cost of goods sold at any point in time.

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Definitions:

Personal Philosophy

An individual's set of beliefs, values, and principles guiding their understanding and approach to life.

Transpersonally

In a manner that transcends the individual self, often relating to experiences that go beyond personal identity.

Connectedness

The state of being connected or interconnected with others, particularly in the context of social relationships.

Providing Presence

The act of being physically and emotionally available to someone, offering support and empathy without necessarily taking any action.