For each statement below, identify whether the statement applies to the periodic inventory system, the perpetual inventory system, or both.

(a) Normally used for relatively inexpensive goods.
(b) Keeps a running computerized record of merchandise inventory.
(c) Achieves better control over merchandise inventory.
(d) Requires a physical count of inventory to determine the quantities on hand.
(e) Uses bar codes to keep up-to-the-minute records of inventory.

Which of the following statements accurately describes how costs and benefits are calculated?

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9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u. s. parent on bank deposits held in london d. interest received by a u. s. parent on a loan to a subsidiary in mexico e. principal repayment received by u. s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u. s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation