All companies are required by Canadian Auditing Standards to maintain a perpetual
inventory system.

Name: All companies are required by Canadian Auditing Standards to maintain a perpetual inventory system.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

While many companies choose to maintain a perpetual inventory system, it is not mandatory under Canadian Auditing Standards. Companies may also use periodic inventory systems, as long as they are able to provide adequate disclosure and explanation of their inventory management practices.

All Companies Are Required by Canadian Auditing Standards to Maintain