In a periodic inventory system the quantity of ending inventory is determined by
A) subtracting units sold from units purchased.
B) a physical inventory count.
C) looking at the balance in the inventory account.
D) subtracting cost of goods sold from the beginning inventory balance.
E) adding units sold to the beginning inventory balance.
B
Business
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A person with a total tax liability of $4,350 and withholding of federal taxes of $3,975 would
A) receive a refund of $3,975. B) owe $4,350. C) owe $375. D) receive a refund of $4,350. E) receive a refund of $375.
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A new organizational leadership position that helps plan for and monitor compliance with federal reporting requirements is:
A) CEO. B) CSO. C) CTO. D) none of the above
Business