When the Perpetual Inventory System Is Used, the Inventory Sold

question 24

Multiple Choice

When the perpetual inventory system is used, the inventory sold is shown on the income statement as

• A) cost of merchandise sold
• B) purchases
• C) purchases returns and allowances
• D) net purchases

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Definitions:

Population Density

Number of individuals per unit area.

Density Independent

Referring to factors affecting the growth, size, or mortality of a population that do not depend on the density of the population.

Density Dependent

Factors whose effects on the size or growth of the population vary with the population density.

Earthquake

A natural geological event characterized by the sudden release of energy in the Earth's crust that creates seismic waves, often causing shaking and displacement of the ground.