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zzz [600]
2 years ago
14

In a periodic inventory system, cost of goods sold is not recorded as each sale occurs. Group startsTrue or False

Business
1 answer:
ZanzabumX [31]2 years ago
6 0

In a periodic inventory system, the cost of goods sold is not recorded as each sale that occurs is a true statement.

<h3>Periodic Inventory System</h3>
  • A physical count of the inventory is conducted at predetermined intervals as part of the periodic inventory system, a technique of inventory valuation for financial reporting reasons.
  • In order to calculate the cost of goods sold, this accounting method starts with an inventory at the beginning of the period, adds fresh inventory purchases throughout the period, and subtracts ending inventory.
  • A corporation using the periodic inventory system won't be aware of its unit inventory levels or COGS until the physical count process is finished.
  • For a company with a small number of SKUs operating in a sluggish market, this method might be suitable, but for all other companies, the perpetual inventory system is preferred.  

Hence, the given statement is true.

To learn more about Periodic Inventory System refer to:

brainly.com/question/17326443

#SPJ4


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g A joint product is: Select one: a. Any product which consists of several parts. b. Any product produced by a company with more
mr_godi [17]

Answer:

The correct answer is letter "D": One of several products produced from a common input.

Explanation:

Joint products are those manufactured by large companies whose production process is the same at an early stage for all the different products being produced, but at a certain stage, called a split-off, the products begin to have their own characteristics.

Since the products initially come from the same input, the costs are allocated in the bundle. After the split-off, the cost of production is allocated to each type of product.

8 0
3 years ago
The federal reserve's goal in managing the money supply is to ensure that money retains its value.
sattari [20]
The answer is B: False The Federal's Reserve goal is t<span>o provide the nation with a safer, more flexible, and more stable monetary and financial </span>system<span>.</span>
6 0
3 years ago
Freddy offers to supply water bottles to Jerry’s Gym at a cost of $40a case. The signed contract says that Jerry’s Gym will buy
atroni [7]

Answer:

-jerry is entitled to monetary damages compensations due to a contract breach.

-Freddy has to pay Jerry $90

Explanation:

the damage that the gym is entitled to would be that of a contract breach. Freddy wanted to earn more money so he breached the contract. Now given that Jerry had to go with another supplier of water at a greater cost of 50 dollars for 9 months, just to satisfy his requirements. Freddy has to pay him monetary damages for this breach in contract.  he has to pay the difference that exists between the price in the contract they had and what jerry now has to pay due to the breach. The difference is 10 dollars, which is to be paid every month for 9 months

= (50 - 40)*9

= 10 * 9 = $90

4 0
3 years ago
Open market sales shrink ________ thereby lowering ________. Group of answer choices the money multiplier; the money supply rese
alexandr1967 [171]

Answer: Reserves and the monetary base; the money supply ( please check your options, they are not clear)

Explanation:

An open market operation (OMO) is an operation by a central bank to give lquidity to a bank or receive liquidity in its currency from a bank. A central bank uses OMO as the major means of balancing monetary policy target in terms of inflation, interest rates, or exchange rates, by purchasing or selling of government securities so as to to expand or contract money in the bank system and control interest rates.

The use of open market operations as a monetary policy tool ultimately helps the Fed pursue its dual responsibilities- improving employment and influencing prices—by controlling the supply of reserves in the banking system, which leads to interest rate changes.

Open market sales therefore shrink Reserves and Monetary base thereby lowering the Money Supply.

5 0
3 years ago
A decision to position the product on high-performance quality will mean that the ________. marketer must boost derived demand i
Virty [35]
<span>A decision to position the product on high-performance quality will mean that the seller must charge a higher price to cover higher costs.

When a company uses higher quality products to market their product as high-performance quality it means that the product will cost more to make and will sell for a higher price. The company has to cover all of their costs and one way to do that is to make sure their price point is set correctly. 
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3 0
3 years ago
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