Which of the following statements about a periodic inventory system is not correct?
A. These systems are used primarily by small businesses with manual accounting systems.
B. The system does not include an up-to-date inventory ledger.
C. The balance in the Inventory account remains unchanged until the end of the period.
D. The Cost of Goods Sold account is updated as sales transactions occur.
D
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Which of the following will enable the reader to respond to complex requests?
A) Relevant deadlines B) Information about how you can be reached C) Specific date and time you want the request to be completed by D) Breaking the request into specific, individual questions E) Combining the request with strong transitions
Pony Corporation is undertaking a capital budgeting analysis. The firm's beta is 1.5. The rate on 10-year U.S. Treasury bonds is 5%, and the return on the S & P 500 index is 12%. What is the cost of Pony's common equity?
A) 13.3% B) 15.5% C) 17.7% D) 19.9%