If Management Wants to Know the Cost and Quantity of Merchandise

question 82

Multiple Choice

If management wants to know the cost and quantity of merchandise on hand at all times, the business will probably:

• A) Use a periodic inventory system.
• B) Maintain an inventory subsidiary ledger.
• C) Take a complete physical inventory each day.
• D) Debit all purchases of merchandise directly to the Cost of Goods Sold account.

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Definitions:

Oppositional Defiant Disorder

A behavioral disorder typically diagnosed in childhood characterized by ongoing patterns of uncooperative, defiant, and hostile behavior toward authority figures that go beyond the bounds of normal childhood behavior.

Child Abuse

Any action by another person – adult or child – that causes significant harm to a child, encompassing physical, emotional, sexual abuse, or neglect.

Babysitter

A person hired to care for children temporarily, ensuring their safety and well-being in the absence of parental guardians.

Teacher

An educator or instructor responsible for guiding students' learning and imparting knowledge and skills in various subjects.