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:

Culture

The shared beliefs, values, norms, practices, languages, and symbols of a society that shape its members' behaviors and perceptions.

Rationalization

The process of making activities or tasks more efficient and logical, often through the implementation of rules and procedures.

Max Weber

A German sociologist, philosopher, and political economist who is regarded as one of the founders of the modern study of sociology and public administration.

Sanctions

Measures of reward or punishment that regulate individual or group behavior within societies or organizations.