Under the Perpetual Inventory System,which of the Following Accounts Would

question 34

Multiple Choice

Under the perpetual inventory system,which of the following accounts would not be used?

• A)Cost of Goods Sold
• B)Merchandise Inventory
• C)Sales
• D)Purchases

---

Definitions:

Parliament

The supreme legislative body in a parliamentary system, composed of elected representatives who make laws, oversee the government, and represent the electorate.

Legislation

The act of making or enacting laws, typically conducted by a legislative body such as a parliament or congress, as a vital component of the governance process.

British Military

The combined armed forces of the United Kingdom, consisting of the Royal Navy, British Army, and Royal Air Force, responsible for the defense of the UK and its overseas territories.

Enlightenment Ideas

Intellectual movements of the 17th and 18th centuries that emphasized reason, individualism, and skepticism towards traditional authority, leading to advances in democracy, human rights, and separation of church and state.