Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the following business types with each business listed below. Each may be used more than once. Clear All Inventory system that updates the inventory account for every purchase and sale transaction. Perpetual inventory system Periodic inventory system Inventory system that updates the inventory account only at the end of the accounting period based on a physical count of inventory on hand. Credit terms Statement that includes subtotals for sales, gross profit, and income from operations in determining net income. Multiple-step income statement Shipping terms where the ownership of merchandise passes to the buyer when the seller delivers the merchandise to the freight carrier. FOB shipping point