Which Statement Relating to the Determination of the Cost of Inventory

question 16

Multiple Choice

Which statement relating to the determination of the cost of inventory in a computerised system is not true?

• A) Computerised inventory systems are now used by most firms.
• B) The system can automatically produce reorder information.
• C) Computerised systems generally use the periodic inventory system.
• D) Determining the cost of inventory is greatly simplified compared to a manual system.

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Definitions:

Time Value

The worth of something which may vary depending on time, often used in finance to denote how value changes over time.

Timer

An electronic component or software function that counts time intervals for the purpose of delaying actions or triggering events at specific moments.

Logic Rung

A single control element in a ladder diagram, representing a specific logic operation in a PLC program.

Processor

A Processor, or Central Processing Unit (CPU), is a primary component of a computer or electronic device responsible for executing instructions and managing tasks.