The two main inventory accounting systems are the a. perpetual and periodic. b. purchase and sale. c.

Question:

The two main inventory accounting systems are the

a. perpetual and periodic.

b. purchase and sale.

c. returns and allowances.

d. cash and accrual.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting

ISBN: 9780132439602

7th Edition

Authors: Charles T. Horngren, Walter T. Harrison

See More Books

Question Posted: Feb 02, 2024 05:00 AM

See More Questions

The two main inventory accounting systems are the: a. perpetual and periodic. b. purchase and sale. c. returns and allowances. d. cash and accrual.
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
Tort cases are so common that it is likely you or someone you know has been involved in a tort case. If so, share what the case was about, what the outcome was, and how you felt about the case and...
Consider supersonic flow impinging on the rounded nose of an aircraft. Will the oblique shock that forms in front of the nose be an attached or detached shock? Explain.
Following the companys rules and procedures is important here. 1 2 3 4 5 LO.1
E2.14. Calculating Stock Returns: Nike, Inc. (Easy) The shares of Nike, Inc., traded at $55 per share at the beginning of fiscal year 2008 and closed at $67 per share at the end of the year. Nike...
Refer to the income statement in C 2 for the state Institutions customer group for the year ended December 31, this year. Sandee Star, the owner of Star Bakery, is in the process of budgeting income...
In your own words, discuss the payback period, NPV (net present value), and IRR (internal rate of return) methods for capital budgeting analysis. What result does each method provide the user? What...
The journal entry for the purchase of inventory on account using the perpetual inventory system is Date a. Merchandise Inventory Accounts Receivable Accounts and Explanation b. Accounts Payable C....
Which account does a merchandiser use that a service company does not use? a. Cost of Goods Sold b. Merchandise Inventory c. Sales Revenue d. All of the above
How does the point estimate compare with the range estimate or interval estimate?
What are the different types of drones?
What are the applications of drones?
What are the various protocols in telecom domain?
What are the various types of routing protocols?
For all the benefits they bring to business, social media and other communication technologies have created a major new challenge: responding to online rumors and attacks on a company's reputation....
Reconsider Prob. 13-57. Using EES (or other) software, compare the results obtained assuming ideal-gas behavior with constant specific heats at the average temperature, and using real-gas data...
What is the role of business risk analysis in the audit planning process?
Is it unfair to criticize a competitors product in an ad? Explain your thinking.
How would your local newspaper be affected if local supermarkets switched their weekly advertising and instead used a service that delivered weekly freestanding ads directly to each home?
Explain why P&G and other consumer packaged goods firms are trying to cut back on some types of sales promotion like coupons for consumers and short-term trade promotions such as buy a case and get a...
When credit terms for a sale are 2/15, n/40, the customer saves by paying early. What percent (rounded) would this savings amount to on an annual basis
An industrial robot that is depreciated by the MACRS method has B = $60,000 and a 5-year depreciable life. If the depreciation charge in year 3 is $8,640, the salvage value that was used in the...
What determines a firm's beta? Should firm management make changes to its beta? Be sure to consider the implications for the firm's investors using CAPM.

The two main inventory accounting systems are the a. perpetual and periodic. b. purchase and sale. c.

Question:

Step by Step Answer:

The correct answer is a Perpetual and Periodic Perpetual and periodic systems are the two main metho...View the full answer

Accounting

Students also viewed these Business questions