Listed below are four terms followed by a list of phrases that describe or characterize the terms.Match each phrase with the best term placing the letter designating the term in the space provided.
-_____ Requires a year-end adjustment for inventory.

Question

Quizplus · Accepted Answer

The periodic inventory system requires a year-end adjustment for inventory, as inventory levels are only recorded at the end of the period. FOB shipping point and FOB destination refer to the point at which ownership of goods transfers between buyer and seller, and do not involve inventory accounting. The perpetual inventory system, on the other hand, maintains a continuous record of inventory levels and does not require a year-end adjustment.

Listed Below Are Four Terms Followed by a List of Phrases