Answer:
FALSE
Explanation.
Periodic inventory is a practice of inventory count that takes stock every week or month while 'continuous inventory' constantly tracks inventory levels mostly through a computerized method so that stock levels. are always known.
It is not very correct that the continuous review system is used to manage inventory associated with independent demand, while the periodic review system is used to manage inventory associated with dependent demand because most often, it is the nature of inventory that determines the method to be used and not the type of demand
Continuous inventory keeps a constant track of quantities; and is more appropriate for small unit items that could be too numerous for physical count because they are bought in large quantities. e.g. supermarkets
Periodic inventory has to be done with big items that are not too numerous like automobiles, televisions, houses and sets of furniture.
The answer is operational feasibility. This is a measurement
as it is the one responsible for measuring how the problems are being solved by
a proposed system that is made and in the same time, during scope definition—the
opportunities are being taken advantage of as it is identified.
<u>Explanation:</u>
1. $1270.54. This is evident since this was written at the bottom of the credit card statement.
2. $500. We find this under the row for payments.
Purchases made:
- 3/25 Groceries land: $142
- 3/27 Book store: $33
- 4/1 Restaurant: $125
- 4/19 Bob's Auto: $425
3. $500
4. Because he made late payments and it comes with a $35 penalty fee as stated in the credit policy of the company.
5. $10.54.
6. $5,000 credit limit, and $3,729.46 is Joe's available credit line.
7. Purchases: 13.99%, Balance transfers: 13.99%, Cash Advances: 25.99.
8. $25.
9. 4/29/19.
10. No, because there is no cash advance charge on the statement.
11. In other to inform the card-holders about the financial burdens attached to paying only the minimum payment due.
Answer:
The two methods or systems for determining the amount of merchandise inventory are:
the perpetual inventory system and periodic inventory system.
Explanation:
The perpetual inventory system requires that separate accounts be kept for Inventory and Cost of Goods Sold to enable a continuous or perpetual update of inventory transactions. This is unlike the periodic inventory system, where the update of inventory transactions are done periodically, and only the Inventory Purchase account is maintained for inventory transactions, with the Inventory balances and Cost of Goods Sold determined periodically.
Answer:
Option a (5000) is the appropriate answer.
Explanation:
Given values are:
Current assets,
= $10,000
Current liabilities,
= $5,000
Now,
The working capital will be:
= 
By substituting the values, we get
= 
= 
