Under GAAP, companies can choose which inventory system? 
IFRS.
Correct Answer:
Verified
Q147: Rae Company uses a perpetual inventory system
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Q177: In accounting for inventory, companies
A) cannot use
Q180: The Income statement is
A) required under GAAP
Q183: Under GAAP companies generally classify income statement
Q188: For the income statement IFRS requires
A) single-step
Q192: Under IFRS companies must classify income statement
Q197: Under GAAP income statement items are generally
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