Match Each of the Following Terms (A-H) with the Correct

Multiple Choice

Match each of the following terms (a-h) with the correct definition below.
-Inventory system that updates the inventory account for every purchase and sale transaction.

A) Credit terms
B) FOB destination
C) FOB shipping point
D) Periodic inventory system
E) Perpetual inventory system
F) Inventory shrinkage
G) Single-step income statement
H) Multiple-step income statement