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Author Question: Using this inventory method the Merchandise Inventory account is adjusted only at the end of the ... (Read 41 times)

kshipps

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on: Jul 6, 2018
Using this inventory method the Merchandise Inventory account is adjusted only at the end of the fiscal period and the adjustment is based on a physical inventory.
 a. Periodic Inventory
   b. Perpetual Inventory
   c. Inventory Shrinkage
   d. Inventory Adjustment

Question 2

Which of the following is considered to be an authoritative source of GAAP for a nongovernmental not-for-profit organization?
 
  A. GASB standards.
  B. AICPA AcSEC Practice Bulletins.
  C. FASB Accounting Standards Codification.
  D. AICPA Audit and Accounting Guide, Not-for-Profit Organizations.


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TDubDCFL

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Reply #1 on: Jul 6, 2018
Answer to Question 1

a

Answer to Question 2

C


kshipps

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Reply 2 on: Jul 6, 2018
YES! Correct, THANKS for helping me on my review

shewald78

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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