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Author Question: Under the periodic inventory system, the merchandise inventory account continuously discloses the ... (Read 194 times)

karlynnae

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  • Posts: 599
on: Jul 5, 2018
Under the periodic inventory system, the merchandise inventory account continuously discloses the amount ofinventory on hand.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Refer to the financial statement above. This financial statement is a(n) ________.
 
  A) income statement
  B) statement of changes in shareholders' equity
  C) balance sheet
  D) statement of cash flows


tdewitt

  • Sr. Member
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  • Posts: 318
Reply #1 on: Jul 5, 2018
Answer to Question 1

False

Answer to Question 2

C


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