Author Question: How does a perpetual inventory system differ from a periodic system? A) Sales are increased only ... (Read 151 times)

Wadzanai · **on:** Jul 5, 2018

How does a perpetual inventory system differ from a periodic system?

A) Sales are increased only at the end of the accounting period in a perpetual system.
B) Cost of goods sold is increased only after an inventory count in a perpetual system.
C) Inventory is reduced after each sale in a perpetual system.
D) Inventory is increased after each sale in a periodic system.

Question 2

Which of the following is not one of COBIT's four broad IT control process domains?
a. plan and organize
b. acquire and implement
c. repair and replace
d. monitor and evaluate