In Australia, Where Most Accounting Is Computerised, the Use of the Periodic

question 56

Multiple Choice

In Australia, where most accounting is computerised, the use of the periodic inventory system is declining. Which of the following businesses is still most likely to use the periodic approach to accounting for inventory?

• A) Chemist shop
• B) Supermarket
• C) Bookshop
• D) Service station

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Definitions:

Sample Proportion

The ratio of members in a sample that have a particular characteristic to the total number of members in the sample.

Standard Error

The standard deviation of the sampling distribution of a statistic, especially of the mean.

Sample Mean

The average value calculated from a sample of observations from a larger population.

Population Standard Deviation

A measure of the dispersion or spread of a set of data points in a population, representing the square root of the variance.