In Comparing a Perpetual Inventory System with a Periodic Inventory

question 57

Multiple Choice

In comparing a perpetual inventory system with a periodic inventory system,which of the following statements is not correct?

• A)Most large companies use perpetual inventory systems.
• B)A periodic system does not include an inventory subsidiary ledger.
• C)The perpetual method is easier to apply in a manual accounting system.
• D)Regardless of the system in use,most businesses take a physical inventory at least once a year.

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Definitions:

Labouvie-Vief's

refers to psychologist Gisela Labouvie-Vief's theories on cognitive and emotional development throughout the lifespan, emphasizing the complex interplay between logic and emotion as people age.

Cognitive Processes

Mental activities related to acquiring, processing, storing, and retrieving information, such as memory, perception, and problem-solving.

Relativistic Thinking

A stage of cognitive development in which individuals understand that knowledge is relative and dependent on the perspective from which it is viewed.

Dualistic Thinking

A cognitive approach where an individual tends to see situations and issues in black-and-white terms, without recognizing the complexities or grey areas.