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Scrat [10]
4 years ago
13

One difference between periodic and perpetual inventory systems is: A) Cost of goods sold is not recorded under a perpetual syst

em until the end of the period. B) Cost of goods sold is not recorded under a periodic system until the end of the period. C) Cost of goods sold is always significantly higher under a perpetual system. D) Cost of goods sold is always significantly higher under a periodic system.
Business
1 answer:
slava [35]4 years ago
5 0

Answer:

B) Cost of goods sold is not recorded under a periodic system until the end of the period.

Explanation:

The periodic inventory system refers to an inventory system in which a physical count of inventory is carried out occasionally in order to determine the inventory level and cost of goods sold (COGS). Therefore, the inventory account and cost of goods sold account are not recorded under a periodic system until the end of this occasional period which may be once a month, once a quarter, or once a year.

On the other hand, the perpetual inventory system is an inventory system in which inventory balances and COGS are continuously updated automatically whenever a product is received or sold using digital technology. Therefore, under perpetual inventory system, purchases and cost of goods sold are continuously recorded automatically without having to wait till the end of any particular period.

Therefore, one difference between periodic and perpetual inventory systems is: B) Cost of goods sold is not recorded under a periodic system until the end of the period.

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lina2011 [118]
He is out of pocket by $32 to purchase the camera, and $90 to pay the medication store, however he is in stash by $62 in his till, so his net loss is $60. 
Diverse bookkeepers would include or subtract the different things in an alternate request, so some ways would look more straightforward than others, however there is no single right way.
5 0
3 years ago
On March 12, Medical Waste Services provides services on account to Grace Hospital for $9,100, terms 2/10, n/30. Grace pays for
const2013 [10]

Answer and Explanation:

The journal entries are shown below:

On Mar 12

Account receivable Dr $9,100

        To Service revenue $9,100

(Being the service provided on the account is recorded)

For recording this we debited the account receivable as it increased the assets and credited the service revenue as it also increased the revenue

On Mar 20

Cash $8,918

Sales discount ($9,100 × 2%) $182

               To Accounts receivable  $9,100

(Being cash received recorded)  

For recording this we debited the sales discount and cash as it increased the discount and assets and credited the account receivable as it reduced the assets

7 0
4 years ago
Why do Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands?
malfutka [58]

Answer:

Explanation:

The main reason for this is to try and position their brand or product in the best way possible within the market. Perceptual maps allow marketers to see how individuals are perceiving the competitive brands as well as their own brands, the markets use this information to determine which position will best benefit their brand in the market and hopefully beat the competition.

4 0
4 years ago
Mr. White sends his acceptance for a business contract to Mr. Green. But Mr. White put insufficient postage on the envelope. One
dimaraw [331]

Answer: True

Explanation:

In business, terms of agreement which is concluded earlier stands a better chance to stand over decisions taken at the later moment.

The means of communication here affected how the communication went. They both used mail postage but that which were initially agreed would stand over that which is being cancelled later.

5 0
3 years ago
James A. Garfield a. was elected president with a commanding popular-vote margin. b. had been nominated by the Republicans becau
natita [175]

Answer:

c. was assassinated by an unsuccessful office seeker

Explanation:

James A. Garfield was the 20th president of USA and he was the first sitting member of congress to be elected as the president of the nation. His service was short lived only for six and a half months until his death by assassination.

He was shot dead by  Charles J. Guiteau at the Baltimore and Potomac Railroad Station in Washington, D.C. and died in Elberon, New Jersey. Guiteau's motive was avenge against Garfield for an imagined political debt.

Hence the correct option is c. was assassinated by an unsuccessful office seeker.

7 0
4 years ago
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