When a company uses a perpetual inventory system,
A) there is no purchases account
B) the cost of goods sold account is used
C) two entries are required when inventory is sold
D) All of these answer choices are used in a perpetual inventory system.
D
You might also like to view...
Consider Figure 5.1. With free trade, Mexico's consumer surplus and producer surplus respectively equal
a. $2000 and $1200. b. $3200 and $200. c. $3600 and $800. d. $4000 and $600.
From the perspective of the world's religions, define the professionalism. What are the Core Principles of Professional Selling?
What will be an ideal response?
A stock's listing in the financial pages of a newspaper usually shows the difference between the high and low prices as the "net change."
Indicate whether the statement is true or false.
If, in a letter of credit, no bank is nominated, then the letter of credit is said to be:
a. a standby letter of credit. b. a transferable credit. c. freely available. d. null and void.