Information ________ Exists When One Party in a Transaction Has

question 82

Multiple Choice

Information ________ exists when one party in a transaction has more information that is important for the transaction than the other party.

• A)transparency
• B)asymmetry
• C)complexity
• D)discrimination

---

Definitions:

Inventory Accounting

The process of valuing and managing inventories, focusing on the cost of goods sold, inventory valuation, and inventory management practices.

Physical Quantities

The measurable amount of a stock or resource, expressed in units of weight, volume, or count.

Ending Inventory

The aggregate sum of products ready for purchase at the closure of a financial period.

Perpetual Inventory System

A bookkeeping approach that immediately logs the buying or selling of inventory via computerized point-of-sale systems and enterprise asset management software.