18) The sale of receivables to a third party is called: A) factoring. B) collateralizing. C) discounting. D) securitization. 19) Goods available for sale is determined by A) adding the cost of any beginning inventory and the cost of purchases during the period. B) subtracting the cost of any ending inventory from the cost of any beginning inventory. C) subtracting the cost of any beginning inventory from the cost of any ending inventory. D) subtracting the cost of any beginning inventory from the cost of purchases during the period. 20) In an actual business, which of the following is an inventory accounting issue that frequently arises? A) How should physical quantities in inventory be determined? B) What items should be included in ending inventory? C) What costs should be included in inventory purchases? D) All of these answer choices are correct. 21) If an inventory error is discovered during the reporting year, A) it should be deferred and discussed with the external auditors. B) it should be corrected immediately. C) a certification of inventory is required. D) a running inventory balance should be implemented immediately. 22) A periodic system of inventory: A) reduces record keeping. B) increases record keeping. C) increases the cost of maintaining inventory. D) eliminates the need for a physical count. 23) The use of perpetual inventory systems is preferred where a: A) large number of expensive inventory units exist. B) small number of expensive inventory units exist. C) large number of inexpensive inventory units exist. D) small number of inexpensive inventory units exist