From an Accounting Point of View,one Implication of an Effective

question 143

Multiple Choice

From an accounting point of view,one implication of an effective just-in-time inventory system is that:

• A)Sales transactions must be recorded using on-line point-of-sale terminals.
• B)Inventories are less material in dollar amount and alternative inventory flow assumptions will produce more similar results.
• C)The cost of goods sold is significantly reduced.
• D)Purchases of merchandise are recorded as cash payments are made,and sales transactions are recorded as cash is received.

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Definitions:

Hearing Loss

A partial or total inability to hear sounds in one or both ears.

Vestibulocochlear Nerve

The eighth cranial nerve, responsible for hearing and balance.

Wisdom Teeth

The last set of molars that most people get in their late teens or early twenties, often removed if misaligned or causing discomfort.

Chewing

The act of breaking down food with the teeth to aid in the digestive process.