In a periodic inventory system, the Cost of Goods Sold account is continuously updated as and when sales occur

Adjusting the accounts is the process of

a. subtracting expenses from revenues to measure net income b. recording transactions as they occur during the period c. updating the accounts at the end of the period d. zeroing out account balances to prepare for the next period

Whenever a new marketing research problem is being addressed, ________ research must be preceded by appropriate ________ research

A) qualitative; quantitative B) observational; experimental C) quantitative; qualitative D) experimental; observational