A Perpetual Inventory System Offers All the Following Advantages Except

question 47

Multiple Choice

A perpetual inventory system offers all the following advantages except:

• A) inventory balances are always current
• B) it enhances internal control
• C) it is less expensive than a periodic system
• D) it helps salespeople determine whether there is a sufficient supply of inventory on hand to fill customer orders

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Definitions:

Groupthink

A psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

Fundamental Attribution Error

The tendency to overestimate the effect of personality or disposition and underestimate the effect of the situation in explaining social behavior.

Self-Serving Bias

A common tendency for individuals to attribute their successes to internal factors while blaming external factors for their failures.

Indoctrination

The process of teaching a person or group to accept a set of beliefs uncritically.