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Question 19 Physical counts of inventory: Are not necessary under the perpetual system. Must be taken at least once a month. Requires the use of

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Question 19 Physical counts of inventory: Are not necessary under the perpetual system. Must be taken at least once a month. Requires the use of hand-held portable computers. Are necessary to adjust the Inventory account to the actual inventory available. Question 20 What type of account is Merchandise Inventory? Liability Equity Revenue O Asset

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