When a Company Uses a Perpetual Inventory System

question 114

Multiple Choice

When a company uses a perpetual inventory system,

• A) there is no purchases account
• B) the cost of goods sold account is used
• C) two entries are required when inventory is sold
• D) all of these

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Definitions:

Contingency of Reinforcement

A concept in behavioral psychology where the delivery of reinforcement depends on specific conditions or behaviors being met.

Behavioral Modification

A method of changing behavior through various techniques such as positive or negative reinforcement, primarily used in treatment and therapy.

Consequence

The result or effect of an action or condition, often one that is negative or undesirable.

Kaizen

A Japanese term meaning "continuous improvement," focusing on constant, incremental improvements in work processes or quality.