The Statement Concerning the Perpetual Inventory Method That Is Incorrect

question 41

Multiple Choice

The statement concerning the perpetual inventory method that is incorrect is:

• A)A stocktake is required to estimate cost of sales
• B)A continuous record is kept of all movements in inventory
• C)With the increased use of computers it has become the most common system
• D)Cost of sales is calculated for each transaction

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Definitions:

Deal

An agreement or an arrangement, often in a business context, that specifies terms between parties for transactions, collaborations, or partnerships.

Entrepreneurs

Individuals who organize and operate businesses, taking on greater than normal financial risks in order to do so.

3 Fs

often refers to the informal investors in early-stage startups: friends, family, and fools, who provide initial capital.

Raise

The act of collecting or soliciting funds or resources, often for a business venture or project.