Under a periodic inventory system, entries are recorded in the ...

[karen]

Under a periodic inventory system, entries are recorded in the Merchandise Inventory account at the end of the fiscal period only.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

The government-wide statement of net assets must include a column for each of the following except
 
  a. governmental activities.
  b. business-type activities.
  c. component units.
  d. fiduciary activities.
  e. All of the above are included in the government-wide financial statements.

[aloop]

Answer to Question 1

True

Answer to Question 2

D