Question 5 (6 points) Listen A company decides to implement a new accounting information system, but they continue to run the old system and the new system simultaneously for two months. This is known as: Direct Cut Off Modular Processing Phased Processing Parallel Processing When the shipping terms are FOB shipping point, who has responsibility to pay the shipping? Seller Carrier Buyer Buyer and Seller An inventory system that uses the Purchases account is known as a: Perpetual Inventory System Weighted Average Inventory System Periodic Inventory System LIFO Inventory System