Which of the following statements is correct?
A) Errors can only occur in a perpetual inventory system.
B) Errors can only occur in a periodic inventory system.
C) Errors can occur either in a perpetual or periodic inventory system.
D) Errors will not occur if you are using a perpetual inventory system.

Question

Quizplus · Accepted Answer

Errors can occur in both perpetual and periodic inventory systems due to reasons such as miscounting inventory, recording errors, theft, or damage. Neither system is immune to errors.

Which of the Following Statements Is Correct