In order to determine inventory for its balance sheet, it is best for a company to count the inventory at the end of its accounting period for
a. The perpetual inventory system
b. The periodic inventory system
c. Both the periodic and perpetual inventory systems
d. Neither the periodic nor perpetual inventory systems
c
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Personal and real defenses are valid against an ordinary holder, only real defenses can be used against a holder in due course
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Indicate whether the statement is true or false