In Comparing a Perpetual Inventory System with a Periodic Inventory

question 57

Multiple Choice

In comparing a perpetual inventory system with a periodic inventory system,which of the following statements is not correct?

• A)Most large companies use perpetual inventory systems.
• B)A periodic system does not include an inventory subsidiary ledger.
• C)The perpetual method is easier to apply in a manual accounting system.
• D)Regardless of the system in use,most businesses take a physical inventory at least once a year.

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Definitions:

Socially Outgoing

Characteristic of a person who is open, friendly, and inclined towards social interaction.

Emotional Stability

A psychological term referring to a person's ability to remain stable and balanced in their emotional state, especially in difficult situations.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, policies, or societal expectations.

Complementary Traits

Characteristics in individuals that when combined, enhance the qualities of each other, contributing to better compatibility or efficiency.