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:

Involuntary

Occurring without the individual's conscious control; often refers to physiological responses or reflex actions.

Cardiac

Pertaining to the heart and its functions.

Muscle

Tissues in the body that have the ability to contract, making movement possible.

Epithelial

Relating to epithelium, a tissue composed of a layer of cells that line the surfaces and cavities of organs and vessels throughout the body.