At Work a Phone Call Should Be Answered on the

question 72

Multiple Choice

At work a phone call should be answered on the

• A) First ring
• B) Second ring
• C) Third ring
• D) Either a or b

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Definitions:

Merchandise Inventory

Goods that a retailer, wholesaler, or distributor holds for the purpose of selling to customers in the normal course of business.

Perpetual Inventory System

A method of accounting for inventory that records real-time transactions of goods as they come in and out of stock, thus maintaining a continuously updated inventory balance.

Periodic System

A method of inventory valuation for financial statements where purchases during the period are recorded directly to an inventory account and the cost of goods sold is determined at the end of the accounting period.