Which of the Following Are Characteristics of a Perpetual Inventory

question 109

Multiple Choice

Which of the following are characteristics of a perpetual inventory system?

• A) Management knows how much inventory is on hand at all times.
• B) Purchases of inventory are recorded to the inventory account.
• C) The computer tracks inventory upon a sale and the cost of goods and inventory are immediately updated.
• D) All of these.

---

Definitions:

Cognitive Processes

Mental activities involved in acquiring, storing, retrieving, and using information, including perception, memory, thinking, and language.

Encoding

The process of converting information into a form that can be stored in memory.

Encoding

The process of converting information into a form that allows it to be stored in our memory.

Cognitive Processes

Mental activities such as thinking, understanding, learning, and remembering.