A Perpetual Inventory System Requires Updating of the Inventory Account

question 79

True/False

A perpetual inventory system requires updating of the inventory account only at the beginning of an accounting period.

---

Definitions:

Liberal

A political or social philosophy advocating for freedom of the individual, democratic principles, and governmental guarantees of individual rights and liberties.

Moderate

A level of intensity, degree, or amount that is considered reasonable, not too extreme or excessive.

Applicants

Individuals who apply for a job, program, or opportunity.

Admission

The process or fact of entering or being allowed to enter a place, organization, institution, or field of study.