A disadvantage of the fixed-period inventory system is that:
A) it involves higher ordering costs than the fixed quantity inventory system.
B) additional inventory records are required.
C) the average inventory level is decreased.
D) since there is no count of inventory during the review period, a stockout is possible.
E) orders usually are for larger quantities.
D
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An____ is a business relationship established by two or more companies to cooperate out of a mutual need and to share risk in achieving a common objective
Fill in the blank(s) with the appropriate word(s).
Which of the following actions by a holder constitutes the complete cancellation of a negotiable instrument?
A) intentionally destroying the negotiable instrument to eliminate obligation B) deliberately striking out the signature of an indorser C) releasing an obligor from liability D) surrendering collateral without the consent of the parties who would benefit from it