{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T04:34:39-04:00", "answer_date": "2024-06-28 04:34:39", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4238665", "url": "\/study-help\/questions\/question-1-4-points-one-advantage-to-using-a-perpetual-4238665", "question_creation_date_js": "2024-06-28T04:34:39-04:00", "question_creation_date": "Jun 28, 2024 04:34 AM", "meta_title": "[Solved] Question 1 (4 points) One advantage to us | SolutionInn", "meta_description": "Answer of - Question 1 (4 points) One advantage to using a perpetual inventory system is that the company never has to physically | SolutionInn", "meta_keywords": "question,1,4,points,one,advantage,perpetual,inventory,system,company,physically,count", "question_title_h1": "Question 1 (4 points) One advantage to using a perpetual inventory system is that the company never has to physically count the inventory. Question 1", "question_title": "Question 1 (4 points) One advantage to using a perpetual inventory system", "question_title_for_js_snippet": "Question 1 (4 points) One advantage to using a perpetual inventory system is that the company never has to physically count the inventory Question 1 options True False Save Question 2 (4 points) The weighted average inventory method will likely result in neither the highest nor the lowest ending inventory Question 2 options True False Save Question 3 (4 points) When calculating accounts receivable turnover, a company would prefer a higher number rather than a lower number (within reason) Question 3 options True False Save Question 4 (4 points) When performing a bank reconciliation, checks outstanding are added back to the bank balance Question 4 options True False Save Question 5 (4 points) Usually the quick ratio will be a lower number than the current ratio Question 5 options True False Save Multiple Choice Select the best answer for each of the following questions Question 6 (4 points) The bad debt method that uses the accounts receivable aging report is Question 6 options the percentage of sales method the bad debt expense method the percentage of receivables method the direct write off method Save Question 7 (4 points) When it is determined that too much money has been set aside for uncollectible accounts, we will Question 7 options credit cash debit reserve for uncollectible accounts debit accounts receivable credit reserve for uncollectible accounts Save Question 8 (4 points) A customer whose account was previously written off unexpectedly pays us If we are using the allowance method we would Question 8 options debit reserve for uncollectible accounts and credit cash debit cash and credit bad debt expense debit accounts receivable and credit allowance for uncollectible accounts AND debit cash and credit accounts receivable debit bad debt expense and credit cash Save Question 9 (4 points) When a retailer accepts a bank card (VISA or MasterCard), they will make what entry for the days receipts Question 9 options debit cash and credit sales debit accounts receivable and credit sales debit cash and debit credit card expense credit sales debit accounts receivable credit sales, and credit credit card expense Save Question 10 (4 points) The company prepares, but does not yet pay, its first payroll of the new year Salaries total $10,000 and 7 65 is withheld from paychecks for FICA tax Ignore all other payroll deductions The journal entries will be Question 10 options debit wage expense $10,000 and debit payroll tax expense $765 credit wages payable $9,235 and credit FICA tax payable $1,530 debit wage expense $10,000 and credit wages payable $10,000 debit payroll tax expense for $765 and credit FICA tax payable $765 debit wage expense $10,000 and credit wages payable 10,000 debit payroll tax expense for $1,530 and credit FICA tax payable $1,530 debit wage expense $10,000 credit wages payable $8,470 and FICA tax payable $1,530 Save Question 11 (4 points) A company buys a $10,000 bond at 102 as an investment The correct entry is Question 11 options credit investment in bonds and debit cash for $9,800 debit investment in bonds and credit cash for $10,200 credit investment in bonds and debit cash for $10,200 debit investment in bonds and credit cash for $9,800 Save Question 12 (4 points) A company issues bonds having a stated value of $100,000 for $102,500 At maturity, the company will Question 12 options credit bonds payable for $102,500 credit bonds payable for $100,000 debit bonds payable for $102,500 debit bonds payable for $100,000 Save Question 13 (4 points) A company uses the percentage of receivables method for establishing the bad debt reserve They want the reserve balance to equal 0 5 of debts 30 days old or less, 2 of debts aged 31 to 60 days, and 4 of debts aged over 60 days An aging report shows $780,000 relating to the past month, $232,600 relating to the prior month, and $89,200 relating to more than two months ago The balance in the reserve account before adjustment is $10,175 What is the adjusting journal entry Question 13 options debit bad debt expense, credit accounts receivable $1,945 debit bad debt expense, credit allowance for bad debts $1,945 debit bad debt expense, credit allowance for bad debts $12,120 debit allowance for bad debts, credit bad debt expense $1,945 Save Question 14 (4 points) A company is closing out the accounting period The inventory balance at the beginning of the period was $222,750, and at the end of the period it was $215,600 Purchases of goods for resale during the period equaled $682,500 What was the cost of goods sold total Question 14 options $675,350 $905,250 $689,650 $682,500 Save Question 15 (4 points) A merchandising company has beginning inventory of 50 units with a total cost of $500 The following transactions during the month of January 1 5 bought 10 units at $11 00 each 1 8 bought 15 units at $11 25 each 1 15 sold 8 units for $16 each 1 22 bought 10 units at $11 50 each and sold 12 units for $16 50 each The ending inventory is $693 75 What inventory costing method is the company using Question 15 options LIFO perpetual FIFO weighted average LIFO periodic Save Short Answer Prepare the following journal entries Dates and descriptions are not required Question 16 (4 points) What is the difference between the periodic inventory and perpetual inventory methods Question 16 options Skip Toolbars for More Insert actions FormatParagraphAddressPreformattedH1 Heading 1H2 Heading 2H3 Heading 3H4 Heading 4H5 Heading 5H6 Heading 6Show All Components Save Question 17 (4 points) Name two costs, in addition to the purchase price, that are added to merchandise inventory cost Question 17 options Skip Toolbars for More Insert actions FormatParagraphAddressPreformattedH1 Heading 1H2 Heading 2H3 Heading 3H4 Heading 4H5 Heading 5H6 Heading 6Show All Components Save Question 18 (4 points) What will be the result to inventory values, cost of goods sold, and net income if the LIFO method is used during times of inflation Question 18 options Skip Toolbars for More Insert actions FormatParagraphAddressPreformattedH1 Heading 1H2 Heading 2H3 Heading 3H4 Heading 4H5 Heading 5H6 Heading 6Show All Components Save Question 19 (4 points) A company has an accounts receivable balance of $300,000 as of the end of the year Credit sales for the year totaled $2,000,000 What were the accounts receivable days outstanding as of the end of the year (not average for the year) Question 19 options Skip Toolbars for More Insert actions FormatParagraphAddressPreformattedH1 Heading 1H2 Heading 2H3 Heading 3H4 Heading 4H5 Heading 5H6 Heading 6Show All Components Save Question 20 (4 points) How is gross margin or gross profit calculated on a merchandizing company income statement Question 20 options Skip Toolbars for More Insert actions FormatParagraphAddressPreformattedH1 Heading 1H2 Heading 2H3 Heading 3H4 Heading 4H5 Heading 5H6 Heading 6Show All Components Save Question 21 (4 points) If a retail store has a sale with everything listed at 30 off, and a rack of clothing is also marked as an additional 20 off, what is the total discount offered Question 21 options Skip Toolbars for More Insert actions FormatParagraphAddressPreformattedH1 Heading 1H2 Heading 2H3 Heading 3H4 Heading 4H5 Heading 5H6 Heading 6Show All Components Save Question 22 (4 points) What does 1 10, n 30 mean Question 22 options Skip Toolbars for More Insert actions FormatParagraphAddressPreformattedH1 Heading 1H2 Heading 2H3 Heading 3H4 Heading 4H5 Heading 5H6 Heading 6Show All Components Save Question 23 (4 points) What cash control is compromised when the purchasing manager is one of the authorized check signers Question 23 options Skip Toolbars for More Insert actions FormatParagraphAddressPreformattedH1 Heading 1H2 Heading 2H3 Heading 3H4 Heading 4H5 Heading 5H6 Heading 6Show All Components Save Question 24 (4 points) Name at least three out of the four documents that the accounting department should have access to in order to pay an invoice Question 24 options Skip Toolbars for More Insert actions FormatParagraphAddressPreformattedH1 Heading 1H2 Heading 2H3 Heading 3H4 Heading 4H5 Heading 5H6 Heading 6Show All Components Save Question 25 (4 points) What item from the companys records must be added to the bank balance when reconciling the bank statement ", "question_description": "Question 1<\/strong>(4 points)

<\/p>

One advantage to using a perpetual inventory system is that the company never has to physically count the inventory.<\/p>Question 1 options:
True<\/td><\/tr>
False<\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 2<\/strong>(4 points)

<\/p>

The weighted-average inventory method will likely result in neither the highest nor the lowest ending inventory.<\/p>Question 2 options:
True<\/td><\/tr>
False<\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 3<\/strong>(4 points)

<\/p>

When calculating accounts receivable turnover, a company would prefer a higher number rather than a lower number (within reason).<\/p>Question 3 options:
True<\/td><\/tr>
False<\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 4<\/strong>(4 points)

<\/p>

When performing a bank reconciliation, checks outstanding are added back to the bank balance.<\/p>Question 4 options:
True<\/td><\/tr>
False<\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 5<\/strong>(4 points)

<\/p>

Usually the quick ratio will be a lower number than the current ratio.<\/p>Question 5 options:
True<\/td><\/tr>
False<\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p>Multiple Choice

Select the best answer for each of the following questions.<\/p>

<\/p> Question 6<\/strong>(4 points)

<\/p>

The bad-debt method that uses the accounts receivable aging report is _______________.<\/p>Question 6 options:

the percentage-of-sales method<\/p> <\/td><\/tr>

the bad-debt expense method<\/p> <\/td><\/tr>

the percentage-of-receivables method<\/p> <\/td><\/tr>

the direct write-off method<\/p> <\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 7<\/strong>(4 points)

<\/p>

When it is determined that too much money has been set aside for uncollectible accounts, we will _______________.<\/p>Question 7 options:

credit cash<\/p> <\/td><\/tr>

debit reserve for uncollectible accounts<\/p> <\/td><\/tr>

debit accounts receivable<\/p> <\/td><\/tr>

credit reserve for uncollectible accounts<\/p> <\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 8<\/strong>(4 points)

<\/p>

A customer whose account was previously written off unexpectedly pays us. If we are using the allowance method we would _______________.<\/p>Question 8 options:

debit reserve for uncollectible accounts and credit cash<\/p> <\/td><\/tr>

debit cash and credit bad-debt expense<\/p> <\/td><\/tr>

debit accounts receivable and credit allowance for uncollectible accounts AND debit cash and credit accounts receivable<\/p> <\/td><\/tr>

debit bad-debt expense and credit cash<\/p> <\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 9<\/strong>(4 points)

<\/p>

When a retailer accepts a bank card (VISA or MasterCard), they will make what entry for the days receipts?<\/p>Question 9 options:

debit cash and credit sales<\/p> <\/td><\/tr>

debit accounts receivable and credit sales<\/p> <\/td><\/tr>

debit cash and debit credit card expense; credit sales<\/p> <\/td><\/tr>

debit accounts receivable; credit sales, and credit credit card expense<\/p> <\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 10<\/strong>(4 points)

<\/p>

The company prepares, but does not yet pay, its first payroll of the new year. Salaries total $10,000 and 7.65% is withheld from paychecks for FICA tax. Ignore all other payroll deductions. The journal entries will be _______________.<\/p>Question 10 options:

debit wage expense $10,000 and debit payroll tax expense $765; credit wages payable $9,235 and credit FICA tax payable $1,530<\/p> <\/td><\/tr>

debit wage expense $10,000 and credit wages payable $10,000; debit payroll tax expense for $765 and credit FICA tax payable $765<\/p> <\/td><\/tr>

debit wage expense $10,000 and credit wages payable 10,000; debit payroll tax expense for $1,530 and credit FICA tax payable $1,530<\/p> <\/td><\/tr>

debit wage expense $10,000; credit wages payable $8,470 and FICA tax payable $1,530<\/p> <\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 11<\/strong>(4 points)

<\/p>

A company buys a $10,000 bond at 102 as an investment. The correct entry is _______________.<\/p>Question 11 options:

credit investment in bonds and debit cash for $9,800<\/p> <\/td><\/tr>

debit investment in bonds and credit cash for $10,200<\/p> <\/td><\/tr>

credit investment in bonds and debit cash for $10,200<\/p> <\/td><\/tr>

debit investment in bonds and credit cash for $9,800<\/p> <\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 12<\/strong>(4 points)

<\/p>

A company issues bonds having a stated value of $100,000 for $102,500. At maturity, the company will _______________.<\/p>Question 12 options:

credit bonds payable for $102,500<\/p> <\/td><\/tr>

credit bonds payable for $100,000<\/p> <\/td><\/tr>

debit bonds payable for $102,500<\/p> <\/td><\/tr>

debit bonds payable for $100,000<\/p> <\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 13<\/strong>(4 points)

<\/p>

A company uses the percentage-of-receivables method for establishing the bad-debt reserve. They want the reserve balance to equal 0.5% of debts 30 days old or less, 2% of debts aged 31 to 60 days, and 4% of debts aged over 60 days. An aging report shows $780,000 relating to the past month, $232,600 relating to the prior month, and $89,200 relating to more than two months ago. The balance in the reserve account before adjustment is $10,175. What is the adjusting journal entry?<\/p>Question 13 options:

debit bad-debt expense, credit accounts receivable $1,945<\/p> <\/td><\/tr>

debit bad-debt expense, credit allowance for bad debts $1,945<\/p> <\/td><\/tr>

debit bad-debt expense, credit allowance for bad debts $12,120<\/p> <\/td><\/tr>

debit allowance for bad debts, credit bad-debt expense $1,945<\/p> <\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 14<\/strong>(4 points)

<\/p>

A company is closing out the accounting period. The inventory balance at the beginning of the period was $222,750, and at the end of the period it was $215,600. Purchases of goods for resale during the period equaled $682,500. What was the cost of goods sold total?<\/p>Question 14 options:

$675,350<\/p> <\/td><\/tr>

$905,250<\/p> <\/td><\/tr>

$689,650<\/p> <\/td><\/tr>

$682,500<\/p> <\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p> Question 15<\/strong>(4 points)

<\/p>

A merchandising company has beginning inventory of 50 units with a total cost of $500. The following transactions during the month of January: 1\/5 bought 10 units at $11.00 each; 1\/8 bought 15 units at $11.25 each; 1\/15 sold 8 units for $16 each; 1\/22 bought 10 units at $11.50 each and sold 12 units for $16.50 each. The ending inventory is $693.75. What inventory costing method is the company using?<\/p>Question 15 options:

LIFO perpetual<\/p> <\/td><\/tr>

FIFO<\/p> <\/td><\/tr>

weighted average<\/p> <\/td><\/tr>

LIFO periodic<\/p> <\/td><\/tr> <\/tbody><\/table>

<\/p>

Save<\/p>Short Answer

Prepare the following journal entries. Dates and descriptions are not required.<\/p>

<\/p> Question 16<\/strong>(4 points)

<\/p>

What is the difference between the periodic-inventory and perpetual-inventory methods?<\/p>Question 16 options:
Skip Toolbars for . More Insert actions. FormatParagraphAddressPreformattedH1 - Heading 1H2 - Heading 2H3 - Heading 3H4 - Heading 4H5 - Heading 5H6 - Heading 6Show All Components <\/td><\/tr><\/tbody><\/table>

<\/p>

Save<\/p> Question 17<\/strong>(4 points)

<\/p>

Name two costs, in addition to the purchase price, that are added to merchandise inventory cost.<\/p>Question 17 options:
Skip Toolbars for . More Insert actions. FormatParagraphAddressPreformattedH1 - Heading 1H2 - Heading 2H3 - Heading 3H4 - Heading 4H5 - Heading 5H6 - Heading 6Show All Components <\/td><\/tr><\/tbody><\/table>

<\/p>

Save<\/p> Question 18<\/strong>(4 points)

<\/p>

What will be the result to inventory values, cost of goods sold, and net income if the LIFO method is used during times of inflation?<\/p>Question 18 options:
Skip Toolbars for . More Insert actions. FormatParagraphAddressPreformattedH1 - Heading 1H2 - Heading 2H3 - Heading 3H4 - Heading 4H5 - Heading 5H6 - Heading 6Show All Components <\/td><\/tr><\/tbody><\/table>

<\/p>

Save<\/p> Question 19<\/strong>(4 points)

<\/p>

A company has an accounts receivable balance of $300,000 as of the end of the year. Credit sales for the year totaled $2,000,000. What were the accounts receivable days outstanding as of the end of the year (not average for the year)?<\/p>Question 19 options:
Skip Toolbars for . More Insert actions. FormatParagraphAddressPreformattedH1 - Heading 1H2 - Heading 2H3 - Heading 3H4 - Heading 4H5 - Heading 5H6 - Heading 6Show All Components <\/td><\/tr><\/tbody><\/table>

<\/p>

Save<\/p> Question 20<\/strong>(4 points)

<\/p>

How is gross margin or gross profit calculated on a merchandizing company income statement?<\/p>Question 20 options:
Skip Toolbars for . More Insert actions. FormatParagraphAddressPreformattedH1 - Heading 1H2 - Heading 2H3 - Heading 3H4 - Heading 4H5 - Heading 5H6 - Heading 6Show All Components <\/td><\/tr><\/tbody><\/table>

<\/p>

Save<\/p> Question 21<\/strong>(4 points)

<\/p>

If a retail store has a sale with everything listed at 30% off, and a rack of clothing is also marked as \"an additional 20% off,\" what is the total discount offered?<\/p>Question 21 options:
Skip Toolbars for . More Insert actions. FormatParagraphAddressPreformattedH1 - Heading 1H2 - Heading 2H3 - Heading 3H4 - Heading 4H5 - Heading 5H6 - Heading 6Show All Components <\/td><\/tr><\/tbody><\/table>

<\/p>

Save<\/p> Question 22<\/strong>(4 points)

<\/p>

What does 1\/10, n\/30 mean?<\/p>Question 22 options:
Skip Toolbars for . More Insert actions. FormatParagraphAddressPreformattedH1 - Heading 1H2 - Heading 2H3 - Heading 3H4 - Heading 4H5 - Heading 5H6 - Heading 6Show All Components <\/td><\/tr><\/tbody><\/table>

<\/p>

Save<\/p> Question 23<\/strong>(4 points)

<\/p>

What cash control is compromised when the purchasing manager is one of the authorized check signers?<\/p>Question 23 options:
Skip Toolbars for . More Insert actions. FormatParagraphAddressPreformattedH1 - Heading 1H2 - Heading 2H3 - Heading 3H4 - Heading 4H5 - Heading 5H6 - Heading 6Show All Components <\/td><\/tr><\/tbody><\/table>

<\/p>

Save<\/p> Question 24<\/strong>(4 points)

<\/p>

Name at least three out of the four documents that the accounting department should have access to in order to pay an invoice.<\/p>Question 24 options:
Skip Toolbars for . More Insert actions. FormatParagraphAddressPreformattedH1 - Heading 1H2 - Heading 2H3 - Heading 3H4 - Heading 4H5 - Heading 5H6 - Heading 6Show All Components <\/td><\/tr><\/tbody><\/table>

<\/p>

Save<\/p> Question 25<\/strong>(4 points)

<\/p>

What item from the companys records must be added to the bank balance when reconciling the bank statement?<\/p>

<\/p>", "transcribed_text": "", "related_book": { "title": "Income Tax Fundamentals 2013", "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516", "edition": "31st Edition", "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg", "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618", "see_more_uri": "" }, "free_related_book": { "isbn": "0982650574", "uri": "\/textbooks\/the-problem-was-me-how-to-end-negative-self-talk-and-take-your-life-to-a-new-level-1st-edition-978-0982650578-262282", "name": "The Problem Was Me How To End Negative Self Talk And Take Your Life To A New Level", "edition": "1st Edition" }, "question_posted": "2024-06-28 04:34:39", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/what-is-a-standard-unmodified-audit-report-when-is-it", "description": "What is a standard unmodified audit report? When is it issued? What level of assurance does it provide users of financial statements?", "stars": 3 }, { "url": "\/study-help\/introduction-to-probability-statistics\/for-what-value-of-c-the-function-f-x--1983932", "description": "For what value of c the function f (x) = c(1 x), 1 \n \n \n \n Answered: 1 week ago", "stars": 3 }, { "url": "\/in-recent-balance-sheet-microsoft-corporation", "description": "In a recent balance sheet, Microsoft Corporation reported Property, Plant, and Equipment of $15,082 million and Accumulated Depreciation of $7,547 million. a. What was the book value of the fixed...", "stars": 3 }, { "url": "\/study-help\/questions\/15b-is-correct-im-looking-to-solve-part-a-thank-9846094", "description": "15B is correct. I'm looking to solve part A. Thank you in advance for the help! Required information [The following information applies to the questions displayed below.] Clopack Company manufactures...", "stars": 3 }, { "url": "\/study-help\/questions\/times-interest-charges-are-earned-a-company-reports-the-following-8130209", "description": "Times Interest Charges are Earned A company reports the following: Income before income tax $1,595,800 Interest expense 202,000 Determine the number of times interest charges are earned. If required,...", "stars": 3 }, { "url": "\/study-help\/questions\/government-nsw-tafe-part-1-sales-budget-preparation-prepare-a-1039882", "description": "GOVERNMENT NSW TAFE Part 1: Sales budget preparation Prepare a Sales budget for 'Health is care' Cafe situated in a Blacktown city hospital for 2016. Health is care Cafe-Sales data for the year ended...", "stars": 3 }, { "url": "\/study-help\/questions\/determine-miller-indices-of-plane-a-z-a2-x-a2-1024064", "description": "Determine miller indices of plane A Z a\/2 X a\/2 a\/2 Y", "stars": 3 }, { "url": "\/study-help\/questions\/help-desk-layout-using-the-internet-research-help-desk-layouts-1056612", "description": "Help Desk Layout Using the internet, research help desk layouts. What types of novel layouts (i.e., not standard cubicles)? Which of these layouts would you prefer to work in?", "stars": 3 }, { "url": "\/study-help\/questions\/abn-amro-bank-amsterdam-wants-to-purchase-rs15-m-against-1007966", "description": "ABN Amro Bank, Amsterdam, wants to purchase Rs.15 m against $ for funding their Vostro account with Canara Bank, New Delhi. Assuming the inter bank, rates of $ is 51.3625 - 3700, what would be the...", "stars": 3 }, { "url": "\/study-help\/questions\/operating-expenses-would-include-o-interest-expense-o-income-tax-1048509", "description": "Operating expenses would include O interest expense. O income tax expense. O freight-out. O freight-out and interest.", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/need-help-with-attached-exam-thank-you-note-that-a-4238664", "next": "\/study-help\/questions\/how-do-you-calculate-bonus-depreciation-situation-nora-own-a-4238666" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Question 1 (4 points) One advantage to using a perpetual inventory system", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/question-1-4-points-one-advantage-to-using-a-perpetual-4238665" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }d": "1" } }