When a Company Uses the Perpetual Inventory System,there Is No

question 201

True/False

When a company uses the perpetual inventory system,there is no need to conduct a physical count of inventory.

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Definitions:

Capital Balance

The amount of money in a company's equity account, not including profits or losses.

Interest

The fee paid for borrowing money, typically expressed as an annual percentage of the principal.

Relinquished

Refers to the act of giving up or surrendering a right, possession, or claim.

Capital Account Balance

The amount recorded in a company's equity section of the balance sheet that represents the total capital from owners or shareholders.