If a company uses a perpetual inventory system, it will maintain all the following accounts except:

Name: If a company uses a perpetual inventory system, it will maintain all the following accounts except:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In a perpetual inventory system, the purchases account is not maintained because inventory is updated continuously with each sale or purchase directly affecting the inventory account. Instead of using a purchases account, the company records purchases directly into the inventory account.

If a Company Uses a Perpetual Inventory System, It Will