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:

Memory Errors

Mistakes or inaccuracies that occur in the process of encoding, storing, and recalling information, often leading to false memories or forgetting.

Confidence Level

A statistical measure that expresses the degree of certainty or trust in a sampling method or experimental result.

Recollection

The action of remembering something not immediately present to the senses, often through conscious effort.

Memories Accuracy

The extent to which recalled information matches the original encoded event, important for the integrity of human memory.