The following sentences may have misspelled words or incorrect punctuation. Make all corrections that are needed. If a sentence is correct as it is now written, write "Correct" by it

When recording the sale of merchandise inventory, using a periodic inventory system, ________

A) a running record of merchandise inventory is maintained during the accounting period B) the Sales Revenue account is credited only as an adjusting entry because sales information is not needed during the accounting period C) sales discounts and sales returns and allowances are not recorded D) there is no need to record an entry to the Merchandise Inventory and the Cost of Goods Sold accounts

Which of the following statements is true about customer retention and customer life expectancy?

A) The higher the customer retention rate, the lower the short-term profit impact. B) As customer retention increases, the customer's life expectancy decreases. C) Customer life expectancy decreases exponentially with customer retention. D) In general, it costs five times more to replace than to keep a customer. E) Higher levels of customer retention have a long-term negative impact on profits.