Under the Perpetual Inventory System

question 132

Multiple Choice

Under the perpetual inventory system

• A)the cost of each item is recorded in the Merchandise Inventory account when it is purchased.
• B)when an inventory item is sold,its cost is transaferred to the Cost of Goods Sold account.
• C)the balance of the Merchandise Inventory account equals the cost of goods on hand.
• D)All of these choices.

---

Definitions:

Labor Demand

The quantity of labor that employers are willing to hire at a given wage rate, reflecting the demand for labor in the labor market.

Firm's Product

A firm's product is the good or service produced or offered by a business entity.

Job Search

describes the process individuals undertake to find a new job or employment opportunity.

Matching Workers

The process of aligning the skills and preferences of job-seekers with the needs and demands of employers.