The Periodic Inventory System Operates By

question 18

Multiple Choice

The periodic inventory system operates by:

• A) Keeping track of inventory as it comes into the organisation and as it leaves.
• B) Counting inventory at regular intervals to establish how much of each item is on hand.
• C) Assuming that the inventory that came in first is the first to be sold.
• D) Tracking the cost of specific items of inventory to the products sold by grouping items according to cost drivers.
• E) None of the given answers.

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Definitions:

Clarify the Path

The process of making the steps or route to achieving a goal or task more understandable and less ambiguous.

Contingency Theory of Leadership

A leadership concept suggesting the effectiveness of a leader's style is contingent on the context or environment.

Fiedler

Refers to Fred Fiedler's Contingency Theory which posits that leadership effectiveness is dependent on both the characteristics of the leader and the situation.

Situational Control

Situational control is the capacity to manage and influence the outcome of specific situations, often through adaptive strategies and decision-making.