The Primary Difference Between the Periodic and Perpetual Inventory Systems

question 240

Multiple Choice

The primary difference between the periodic and perpetual inventory systems is that a

• A) periodic system determines the inventory on hand only at the end of the accounting period
• B) periodic system keeps a record showing the inventory on hand at all times
• C) periodic system provides an easy means to determine inventory shrinkage
• D) periodic system records the cost of the sale on the date the sale is made

---

Definitions:

Values

Fundamental beliefs or principles that guide behaviors, decision-making, and lifestyle choices among individuals or groups.

Shared Behaviors

Behaviors exhibited by a group that are common and consistent among its members, often fostered through culture or norms.

Norms

Societal, group, or organizational standards of behavior that are considered acceptable and typical.

Values

are deeply held beliefs or standards that influence behavior and decision-making, serving as fundamental principles guiding an individual's or organization's actions.