Under the periodic inventory system, the merchandise inventory account continuously discloses the ...

Author Question: Under the periodic inventory system, the merchandise inventory account continuously discloses the ... (Read 189 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

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