« previous next »

Author Question: Under the periodic inventory system, the merchandise inventory account continuously discloses the ... (Read 195 times)

karlynnae

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

False

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

The male reproductive system. The male reproductive system.
Shark Circulatory System Shark Circulatory System
Lymphatic system. Lymphatic system.
Common Prefixes of the Metric System Common Prefixes of the Metric System
The mesotelencephalic dopamine system in the human brain, consisting of the nigrostriatal pathway ... The mesotelencephalic dopamine system in the human brain, consisting of the nigrostriatal pathway ...
The Male Reproductive System The Male Reproductive System
Video: Status Epilepticus

For a complete list of videos, visit our video library