Question: A physical inventory count should be taken periodically _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

A physical inventory count should be taken periodically __________________________.
a.
only If a periodic inventory tracking system is used
b.
only If a perpetual inventory tracking system is used
c.
by all service companies
d.
by all companies that hold inventory

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

A physical inventory count should be taken periodically __________________________. Select one: A.only If a periodic inventory tracking system is used B.by all merchandising companies unless the...

Q:

Sales - # Granting sales retums or allowances. # Accounts Receivable Sales Returns and Allowances ...... Cash or Accounts Receivable ... Merchandise Inventory Cost of Goods Sold # # # Knowledge Check...

Q:

3 Knowledge Check 01 If a perpetual Inventory system is In use O a physical Inventory count is not required because the Inventory account is updated for each purchase and sale. a physical Inventory...

Q:

001 HW G. Help Save & Exit Check in ANNI Required information Sales Discounts the discount period. Accounts Recelvable Sales - Granting sales returns or allowances. Sales Retums and Allowances .........

Q:

If a perpetual inventory system is in use _ _ _ _ _ _ blank. multiple choice a physical inventory count is not required because the Inventory account is updated for each purchase and sale. a physical...

Q:

Chapter 5 Assignment! X https:/ewconnect. meducation.com/flow/corned.ml signment Homework i Help Save & E Required information 430 0 0 10:38 Knowledge Check 01 If a perpetual inventory system is in...

Q:

Suppose, after graduating, that you accept a job as a manager for a retail store that sells tablets and laptop computers, along with cases and bags for them. The inventory is purchased from other...

Q:

In the All About You feature in this chapter, you learned about inventory control. Suppose, after graduating, that you accept a job as a manager for a retail store that sells high-end and mid-level...

Q:

I need help to answer these questions, please. Thank you. TRUE or FALSE 1. EHT & WSIB are both deducted once per month from the employee. TRUE or FALSE 2. CPP, EI and Income Tax deductions are paid...

Q:

I need answers to the following questions. Your help is very much appreciated in advance. TRUE OR FALSE: 1. When a selling price has been set, it cannot be changed again in the INVENTORY & Services...

Q:

What is the standard deduction amount for a dependent? Under what conditions can a dependent claim the same standard deduction as a single individual who is not a dependent?

Q:

Given advances in information technology, globalization, and other relevant factors, what kinds of ethical lapses does the accounting profession have to guard against in the future? Is the field...

Q:

Answer Which of the following molecules has the highest free energy of hydrolysis? O ATP 1,3-bisphosphoglycerate O Glucose-6-phosphate O phosphoenolpyruvate O creatine phosphate

Q:

Solve B. 6a2-23a +20. a +2 2a2-a-10 2a-5