Author Question: The inventory system where a business continually maintains a cost record of each item in stock a. ... (Read 116 times)

madam-professor · **on:** Jul 6, 2018

The inventory system where a business continually maintains a cost record of each item in stock
a. Periodic Inventory System
b. Perpetual Inventory System
c. Inventory Cost Control System
d. None of the above.

Question 2

Under the modified accrual basis, revenues are considered available to finance current period expenditures if they are legally available and

A. Earned.
B. Collected during the current period.
C. Collected in the current period or soon enough thereafter to be used to pay liabilities of the current period.
D. Objective measureable.