The Perpetual Inventory System

question 37

Multiple Choice

The perpetual inventory system

• A)reduces the amount of clerical work.
• B)eliminates the need for a physical count of the inventory.
• C)keeps a continuous record of the quantity of inventory items.
• D)All of these choices.

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Definitions:

Corporate Headquarters

The main office or center of operations for a corporation, where key executive decisions are made.

Reportable

Refers to information or events significant enough to be mentioned or included in financial statements or reports.

Operating Segments

Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance.