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:

Self-Reference Criterion

The tendency to use one's own cultural standards and experiences to judge and interpret the behavior and beliefs of people from other cultures.

Cultural Values

Fundamental beliefs or ideals shared by a group of people which dictate behaviors and provide a sense of identity and community.

Unconscious Reference

An implicit or automatic reference to knowledge or information not consciously recognized by an individual.

Laissez-Faire

An economic philosophy advocating for minimal government intervention in the marketplace, allowing the free market to govern itself through supply and demand.