Under a Periodic Inventory System

question 94

Multiple Choice

Under a periodic inventory system

• A) accounting records continuously disclose the amount of inventory
• B) a separate account for each type of merchandise is maintained in a subsidiary ledger
• C) a physical inventory is taken at the end of the period
• D) merchandise inventory is debited when goods are returned to vendors

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Definitions:

Gamete

A mature haploid male or female germ cell which is able to unite with another of the opposite sex in sexual reproduction to form a zygote.

Spermatogenesis

The process by which male spermatozoa are produced, involving meiosis and subsequent maturation.

Oogenesis

Production of eggs in females by the process of meiosis and maturation.

Sister Chromatids

Identical copies of a chromosome, connected by a centromere, created during DNA replication and present in a cell before it divides.