If a Company Uses a Periodic Inventory System,it Will Maintain

question 21

Multiple Choice

If a company uses a periodic inventory system,it will maintain all of the following accounts except:

• A) Cost of Goods Sold
• B) Purchases
• C) Sales
• D) Inventory

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Definitions:

Sensor

In homeostasis, a receptor that detects a change (i.e., a deviation from the homeostatic state).

Effector

A molecule, cell, or organ that actively responds to a stimulus and brings about an effect or change as a result.

Ectothermic Animals

Organisms that regulate their body temperature through external sources, unable to internally maintain a constant body temperature.

External Environment

The conditions, entities, and factors surrounding and affecting an organism or system outside of its immediate physical location.