Which of the Following Statements Regarding a Periodic Inventory System

question 30

Multiple Choice

Which of the following statements regarding a periodic inventory system is incorrect?

• A) A periodic inventory system is simpler than a perpetual inventory system.
• B) A periodic inventory system works well for small businesses in which inventory costs can be controlled by visual inspection.
• C) The only way to determine the ending merchandise inventory and cost of goods sold in a periodic inventory system is to take a physical inventory.
• D) The various inventory costing methods are not used in a periodic inventory system.

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Definitions:

Child Psychopathology

The study and diagnosis of psychological disorders affecting children and adolescents.

Cultural Norms

Shared beliefs or behaviors considered acceptable and typical within a specific group, society, or culture.

Syndrome

Set of symptoms that tend to occur together.

Diagnosis

The method of identifying the disease or condition that accounts for an individual's symptoms and signs.