which-of-the-following-describes-features-of-a-perpetual-inventory-system-a-technology-is-normally-u

Question

Which of the following describes features of a perpetual inventory system?
A. Technology is normally used to record inventory changes.
B. Merchandise bought is recorded as purchases.
C. An adjusting journal entry is required at year end, to match physical counts to the asset account.
D. Inventory is updated at the end of the period.

Puneet Prajapati · Accepted Answer

okay. Sylvia will understand the night, boss. First of all, he will understand. Like to system. What is the meaning of it? System forward. By that, we will understand how many dates of energy system we have. Okay, so it refers to the system which guards seeing, and but she&#x27;s off words. You mean directly true. Okay, so it is the system. Okay? It is the system which the car sailing, but Jay&#x27;s upwards immigrated through computers. So this is the most and even so we talked about. Look, this is the most important element of invented a system. Deputation. Okay. However, there is a system. There is a system bitch record sailing, but a chase off the course through computerized sophisticated computer race. Okay, however, almost in now, what is in a green wimpy system? We have computers off place of testicular philosophically called every transaction. Okay. Veteran to sail a purchase of goods, but not Jellystone. We have recently we have perpetual inventory system that this designed to record these healing purchase off boats through computers off. Okay, now what happens? Not all of the entities okay. Not all of the entities are able to employ such computers are very in their entity record this year in purchase by that. So because most of the entities or we can say small entities. All right, short off first, what we can see have less ferns who deploy, but it sure innuendo system. Okay, okay, because many off these small and it is will not be able to deploy perpetual and make this system into their entity. So So that is our solution for the current portion. Okay. What? So our current discussion and analysis matches with Joyce D That the perpetuation in my system is very costly in expensive for small entities, especially, okay. Will be employed in entities to the car goods. Okay. So you can write down what evidence apart forever. Choice D is the correct answer. Okay. Thank you.

Puneet Prajapati · Answer

because, let&#x27;s understand dickering solution. Okay, so there is a mat heard which we know ness, but make sure. Okay, what should? Okay. Requires Can you be quiet Recording. Oh, to journaling, please. Whenever the sale is May believe Mr. Okay, So there are two types off. Okay, so there are two types methods first monies, but actually, and 2nd 1 is beauty, about which I&#x27;m not talking about here, Okay. You never even case that rockets. We will help even if you have a daughter discussion over there. But however, the perpetual matter is the only matter which requires recording off journal entries whenever the same is made with the best. So this is generally happens. We consume most of the time that happens in games off, wind off, see, like whenever you. But she&#x27;s Let&#x27;s there. Parallels are forms of privileges from our, you know, big store market. What we can say like Moore&#x27;s. Okay. Did it is recording off to a journal entries whenever sale is made through the testimony. Okay, we also alone. We also know kind of stay less us $1 in damage. Okay, so we have did I have double solution. So the correct choice. So the correct choice is be okay, that this But eventually that&#x27;s all for our solution. However, you can like this this definition as his example. What the difference, that&#x27;s all. Well, first edition. Thank you.

Puneet Prajapati · Answer

Okay, So letters understand the medium&#x27;s through which beacon a quiet or initiate the jays tradition, you know, business. And okay, so everyone knows. And most of us knows that there are only two mediums through which we can purchase or acquired any lipo from a TV and 56. Okay, so first is cash business, okay. And 2nd 1 is credit business. So Engadget bases what happens? That&#x27;s a supposed is this and that Offer goods and be departure. So a very transport or delivered Ingles. Okay. And be with make deep in it. Okay, let&#x27;s suppose $100. So this is that this is the trial of change, which will involve transfer of goods against depend away, but in case so credit basis transaction. What happens? Evil Deliver the goods. OK, that is very obvious, because otherwise transaction will not be considered to be happened. But be Bill be who? Mr A at a little boy. Let is opposed treatments. Okay. It means the purchase has been made on credit. Okay, now what happens? There is a system which being know as the Arctic your dick invented system. Okay, now what happens in this case if we purchase any item, or we can say any under D applying this this typical mattered if Jesus, Any item, Then it&#x27;s Children Car, the journal entry in the falling minute leg. First of all, it really Deborah deeper cheeses, but Jesus, let&#x27;s see, actually singular. So purchase account debit. Who Cash? Who gets it by there. So let&#x27;s suppose then you meet Is purchasing di item in cash? Okay, so entity is being the supplier in cash phone who punches. So purchase is to denote the items are raw material that has been purchased from the supplier. Okay. And cash has been done to denote that cash cash is being paid open cheese a property so we can understand that they deserve the full effect off the production. Right? Didn&#x27;t like this. The full effect. Oh, every fine and shipped on it. Okay, so we have I didn&#x27;t defied that. What are the accounts? That will be effective, you know, in games off entity, applying periodic in rental system. So that is so that matches with Joyce. Okay. Okay, that this cash and purchase Okay, So we will write. Have a choice. So I say is the correct answer. However, you can drive down angry. So okay, who get a better future difference? I have a choice is the correct answer.

Puneet Prajapati · Answer

So we are going to understand the meaning off. Invent new system. Okay, so by back, we&#x27;ve been in this thing. It&#x27;s a little respect, so So Okay, so it is the system. Which in neighbours An entity record what she is. Okay. Sales transactions, but she is in sale transactions. No kidding? Given the financial. Okay, so an inmate base system enables an entity. Okay? It enables an entity who regard, but she&#x27;s I see. Okay, transaction opening within the financial yet. Okay, So there are many elections which are occurred in an entity. Didn&#x27;t give an inch area. So anyway, every system allows to record those convictions. Okay. However, there is ah, system. Or we can say that April systems. Okay, beautiful. The Arctic in when do system. So as its name suggests, it allows table Inspection Act desired indo us. So as the name off in when two systems suggests pretty already. Okay, So it allows an entity who conduct soup able inspection. Okay, So people inspection are designed to know what is the model of desired influence. It would be it could be Legally you contracted overtime writing okay for a future girlfriends monthly. So these are there Do that sort Designing parents with data on so however daily will be, you know, very, very time consuming. Okay, so daily bigly monthly are fairly Okay, so on. Okay, so it it allows the entity to conduct some people inspection at the increments. Okay, so that matches with So I would put in solution matches with choice E. Okay, so it is the correct answer. Joyce A is the correct answer. However, you can write for everything so far. What a difference. So choice is the correct answer.

Puneet Prajapati · Answer

Okay, so we will understand nights off, but just on a chip. Okay, So we everyone know. Okay, Everyone knows that to how many mediums weekend conduct our apologies off any day. Okay, so out off those who are most popular that oneness. Okay, so one off. Not the most popular, however, most no matter to everyone that this gash basis party storage, like ve vill lame that supported there will be a transaction with Mr A and Mr B. So Mr even supply goods okay, on Mr B will be dollars, $1,000,000 cash injured ALOF words. Okay against the Kurds delivered to Mr B. Okay, this is the catch my sister now in this direction, what happens there are who respects off this under chip. Okay, because off financial transaction will always have who respects or we can see a double effect. So? So the first effect is the moment off cash from Mr B two mystery and second bonus stop that is being moved from Mr A. Mr B. Okay. However, when we come to of a second type of production, that was the most popular one matter. Okay, I did basis replaces what happens in credit basis. However, Mr Able deliver groups. Okay, that is obvious. But what will happen, Mr Beaven say that mystery. I will pay you at a later point in time like within one month. Okay, But then one month, $1000 Good people. Now, in this transaction, there are also due respects because I have said that often. And Children ricin will always have a prolific. So it will be, of course, stark effect because the goods are being moved from his tip. Mr B. No, there is a second respect. Okay, on that set second inspectors prettiness. So craters are the are the persons or the entities which are to be here by the persons who have received goods and services from the craters. So in the Given kids, Mr B has received gentle business from mystery. So he has to pay $1000 with environment. So Mr B will be greater So you can draw Adaline so that you will be. And you would be able to understand that in this case we will be right. So the f I didn t fight that type of accounts we will need. They will be needed to the court The been recording deputies. Okay, so now that matches without Joyce. So I see. Because then recording approaches. They can be medical matters our better, Most important method. Sorry, who Most important methods are cash basis and created basis and the falling type of house we can use. However, in place off straight as we can use accounts people. Okay, so craters and accounts people can be used interchangeably. However, choice is the correct answer, okay?

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Mitchell Franklin, Patty Graybeal, Dixon Cooper

Principles of Accounting Volume 1: Financial Accounting

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Principles of Accounting Volume 1: Financial Accounting

Mitchell Franklin, Patty Graybeal, Dixon CooperPrinciples of Accounting Volume 1: Financial Accounting

Mitchell Franklin, Patty Graybeal, Dixon Cooper

Principles of Accounting Volume 1: Financial Accounting