When Using the Periodic Inventory System,the Merchandise Inventory Account Is

question 79

Multiple Choice

When using the periodic inventory system,the Merchandise Inventory account is ________.

• A) not used
• B) never used when recording purchase discounts, or returns of inventory
• C) replaced on the balance sheet with the Purchases account
• D) updated after each sale

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Definitions:

Beta

A phase in software development where features are complete but the software may still contain bugs; it follows the alpha phase and precedes the final release.

System.out.println

A method in Java used to print a string or other data types to the console or standard output stream.

InvalidIndexException

A type of exception that is thrown when an attempt is made to access an index that is outside the bounds of a list or array.

Array Index

Array Index refers to the numerical position of an element within an array, typically starting with 0 for the first element.