Which of the Following Is True Under the Perpetual Inventory

question 140

Multiple Choice

Which of the following is true under the perpetual inventory system?

• A) One entry is required to record a sales return.
• B) Cost of goods sold cannot be determined unless a physical inventory is taken.
• C) Two entries are required to record a sale.
• D) A separate account for purchases is required.

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Definitions:

Blended Family

A family consisting of a couple and their children from this and all previous relationships.

Physical Ailments

Medical conditions or illnesses affecting the body, often causing pain or discomfort.

Grieving

The process of experiencing emotional suffering or distress over a loss or change, typically associated with death.

Mental Illnesses

A wide range of mental health conditions that affect mood, thinking, and behavior.