When a Perpetual Inventory System Is Used, the Inventory Account

question 132

True/False

When a perpetual inventory system is used, the inventory account is usually a control account maintained in the general ledger.

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Definitions:

Aerobic Respiration

A process of producing cellular energy involving oxygen. Cells use oxygen to convert glucose into ATP, releasing carbon dioxide and water.

Oxidized

Refers to a substance that has lost electrons and increased its oxidation state, often as part of a chemical reaction involving oxygen.

Reduced

In chemistry, refers to the gain of electrons or decrease in oxidation state by a molecule, atom, or ion.

Cellular Respiration

Pathway that uses an electron transfer chain to harvest energy from an organic molecule and make ATP. See aerobic respiration.