When a periodic inventory system is used, ________
A) an adjusting entry is needed to record the ending Merchandise Inventory account balance
B) the process for closing the Income Summary and Dividends accounts differs from the process used in the perpetual inventory system
C) beginning Inventory, Purchases, and Freight In accounts are closed via the Income Summary Account
D) there is no need to take a physical count of inventory
C
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Which of the following is NOT one of the three types of information that is obtained from a questionnaire?
A) basic information B) problem-solving information C) classification information D) identification information E) C and D
The model in which environmental, social, and economic responsibilities are satisfied concurrently is known as ________
A) corporate social responsibility B) global activism C) giving back to the planet D) restoration and revivification