The Periodic Inventory System Is a Shortcut System That Does

question 33

Multiple Choice

The periodic inventory system is a shortcut system that does not record the ______________ of each sale.

• A)Cost price
• B)Selling price
• C)Date
• D)Dollar value

---

Definitions:

Empirical Approach

A method of inquiry that relies on direct observation, experimentation, and evidence-based understanding to gain knowledge and facts.

Observation

The act of closely monitoring or examining something or someone to gain information or understanding.

Experimentation

The methodical testing of theories or hypotheses by manipulating variables to observe their effects.

Scientific Attitude

A mindset characterized by curiosity, skepticism, and openness to evidence and reasoning, rather than by belief or intuition.