Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

Exercise 35

Mark and Amanda Carter own an appliance store and a restaurant.he appliance store sells merchandise on a 12-month installment plan; the restaurant sells only for cash.hich of the following statements are true (More than one answer may be correct.)
a.he appliance store has a longer operating cycle than the restaurant.
b.he appliance store probably uses a perpetual inventory system, whereas the restaurant probably uses a periodic system.
c.oth businesses require subsidiary ledgers for accounts receivable and inventory.
d.oth businesses probably have subsidiary ledgers for accounts payable.