1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anon25 [30]
3 years ago
7

Under a periodic inventory system: ______.a. the current inventory available for sale is always known. b. the merchandise invent

ory balance is updated after each sale and each purchase. c. the merchandise inventory balance reflects the ending inventory. d. the merchandise inventory balance reflects the beginning inventory.
Business
1 answer:
cupoosta [38]3 years ago
6 0

Answer:

C) the merchandise inventory balance reflects the ending inventory.

Explanation:

When a company uses the periodic inventory system, inventory records are updated only at the end of each accounting period. The periodic inventory system records cost of goods sold (COGS) at the end of the accounting period after the inventory records have been updated.

You might be interested in
The fallacy of composition is:a. the erroneous view that an economic activity can sometimes exceed the sum of its components. b.
Mamont248 [21]

Answer:

The correct answer is d.

Explanation:

The fallacy of composition consists in inferring that something particular is true, and that therefore it is also true about a whole, basing this only because it is true about one or more of its parts. For example, if we establish that a piece of metal can not break at high temperatures, therefore the machine of which it is part will not break at high temperatures.

Have a nice day!

7 0
3 years ago
The Lin household’s annual income is $188000. Based on the U.S. federal tax rates below, what is the average tax rate for the Li
Sedaia [141]

Answer:

24%

Explanation:

For the taxes due on April 2020 (current year taxes):

The Lin household falls under the fourth tax bracket for married individuals filing jointly:

  • tax rate 24%
  • Income between $171,051 to $326,600

If no deductions were available, they would owe $188,000 x 24% = $45,120 in taxes.

6 0
3 years ago
How does microfinance benefit an economy?​
JulsSmile [24]

Answer:

it enables people to use money wisely

Explanation:

this is because a specific amount of money will be provided for a specific reason

3 0
2 years ago
The production of small consumer goods is referred to as?
AURORKA [14]
The correct answer is  :  light Industry

Since a light industry only produce small consumer goods such as clothes, shoes, hand made dolls, etc, it usually less capital oriented than the heavy industries and more consumer oriented than business oriented
8 0
3 years ago
Susan had to go buy school supplies. While she was out, she decided to buy some new items for her bedroom as well. her credit li
Vsevolod [243]

Answer: Over the limit fee

Explanation: This is because since she did not pay the 75 dollars the previous month it rolls over to this month in which she has already spent 180 dollars and her limit is 200 dollars so adding 75 to that 180 dollars would be over the limit, so she would have to pay a fee.

4 0
2 years ago
Other questions:
  • True or false? fat loading in the days and weeks prior to an event is recommended as a method of enhancing athletic performance.
    12·1 answer
  • Lonergan Company occasionally uses its accounts receivable to obtain immediate cash. At the end of June 2021, the company had ac
    7·1 answer
  • Lopez Company uses both standards and budgets. For the year, estimated production of Product X is 597,000 units. Total estimated
    13·1 answer
  • Medoc Company provides the following information about its single product Targeted operating income 54 comma 790 Selling price p
    8·1 answer
  • What are the portfolio weights for a portfolio that has 134 shares of Stock A that sell for $44 per share and 114 shares of Stoc
    6·1 answer
  • In the 1850s the French franc was valued by both gold and silver, under the official French ratio which equated a gold franc to
    14·1 answer
  • Which of the following would not be considered an advantage of a sole proprietorship?
    6·1 answer
  • Assume that the quantity of X is measured on the horizontal axis, and the quantity of Y is measured on the vertical axis. Assume
    13·1 answer
  • The night manager of Willis Transportation Service, who had no accounting background, prepared the following balance sheet for t
    8·1 answer
  • People are unlikely to buy Big Macs in the places where they are relatively cheap (according to purchasing power parity) and sel
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!