Periodic Inventory Systems Are Used Primarily By

question 72

Multiple Choice

Periodic inventory systems are used primarily by:

• A)Small businesses with manual accounting systems.
• B)Large manufacturing companies.
• C)Small businesses that sell a low volume of high-priced items.
• D)Companies that sell a high volume of low-priced items and record sales transactions on point-of-sale terminals.

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Definitions:

Delivery

The act of transferring something from one party to another, often referring to goods, documents, or titles.

Endorsement

An act of giving one's public approval or support to someone or something, or in finance, the signature on the back of a check necessary for its negotiation.

Alteration

Any change or modification made to something, often referring to adjustments in clothing or documents.

Obligation

An obligation is a legal or moral duty to do or not do something.