Regarding a Periodic Inventory System,which of the Following Statements Is

question 164

Multiple Choice

Regarding a periodic inventory system,which of the following statements is incorrect?

• A) The periodic inventory system is normally used for relatively expensive goods.
• B) Restaurants and small retail stores normally use the periodic inventory system.
• C) Periodic inventory systems are becoming less and less popular.
• D) The physical count of inventory is required in order to determine the quantities on hand.

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Definitions:

Negative Associations

The connection found between two variables that move in opposite directions, where an increase in one leads to a decrease in the other, or vice versa; or the mental connection made by individuals between undesirable experiences and specific objects, concepts, or people.

Bona Fide Occupational Requirement

Entails a condition or qualification that is essential for performing a job, used as a legal defense in discrimination cases if it is reasonably necessary for the operation of the business.

Employment Equity Act

Legislation aimed at eliminating employment barriers and promoting equality within the workplace for women, indigenous peoples, persons with disabilities, and members of visible minorities.

Job Performance

The act of performing tasks and duties associated with a specific role or job, typically measured against pre-defined criteria or objectives.