ion 30Which one the following statements is true about periodic inventory system?etereded out ofIncome statement and balance can accurately be prepared at any point of timeag questionIt is appropriate for the small businessesNone of theseIt is not appropriate for the small businessesevious pagened Saleh Alhashemi (Log out)

Periodic inventory system: Periodic inventory is a system of inventory in which updates are made on…

Which one the following statements is true about periodic inventory system? Income statement and balance can accurately be prepared at any point of time It is appropriate for the small businesses None of these It is not appropriate for the small businesses

Which one the following statements is true about periodic inventory system? Income statement and balance can accurately be prepared at any point of time It is appropriate for the small businesses None of these It is not appropriate for the small businesses

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.

Question

ion 30
Which one the following statements is true about periodic inventory system?
et
ered
ed out of
Income statement and balance can accurately be prepared at any point of time
ag question
It is appropriate for the small businesses
None of these
It is not appropriate for the small businesses
evious page
ned Saleh Alhashemi (Log out)

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