Answer:
Option (b) is not true.
Explanation:
In a periodic system, the costs of acquisition of inventory are not directly debited to an inventory account; they are usually updated periodically. It is a system where the cost is added in the inventory account at the end of the period only, that is why option (b) is incorrect the cost of inventory or acquisitions are not added directly. Perpetual system is a technique where inventory acquisition cost indirectly added to an inventory account.
Want is like you go to the store and you like a toy you want it
Answer:
The correct option is C states that creditors have a higher position in the priority of claims.
