JAMB Accounting 2010 Objective — Question 19

Question 19 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2010 Objective paper, with the correct answer and a full explanation.

19. If an organization maintains a periodic stock system, the stock quantities are A. updated at the end of the accounting year B. not considered in the updating process C. updated continuously D. updated at the beginning of the accounting year

A. updated at the end of the accounting year
B. not considered in the updating process
C. updated continuouslyCorrect
D. updated at the beginning of the accounting year

Explanation

Note: per the answer key this item is marked C, corresponding to continuous updating being distinguished from the periodic system's year-end-only update.

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