Examlex
Which statement about study techniques is FALSE?
Perpetual Inventory System
An accounting approach that continuously updates inventory records after each transaction, providing a real-time view of inventory levels.
Liability Credited
A credit entry in accounting representing an increase in liabilities, reflecting that a company has received something of value for which it must pay in the future.
Asset Debited
An accounting entry that increases the value of an asset account.
F.O.B. Destination
A shipping term indicating that the seller bears the shipping costs and maintains ownership and responsibility for the goods until they are delivered to the buyer's specified location.
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