Which one of the following statements is not true? a. ...
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Accounting
Which one of the following statements is not true?
| a. | A company using the periodic system does not maintain a continuous record of the physical quantities (or costs) of inventory on hand. |
| b. | In the periodic system, the costs of acquisition of inventory are not debited directly to an inventory account. |
| c. | In the perpetual inventory system, recording in detailed subsidiary records can be in units only-not in dollar costs. |
| d. | When the perpetual system is used, a physical count does not need to be made periodically. |
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