Which of the Following Is True of the "Rendezvous

question 92

Multiple Choice

Which of the following is true of the "rendezvous"?

• A) It was an annual, multi-day gathering of American, Indian, Mexican, and mixed-race fur trappers from throughout the West.
• B) It was gathering in which all of the ethnic groups that lived in New Orleans competed for a story-telling prize.
• C) It was the geographic point after which wagon trains had to depend on Native American guides to lead them safely to their destination.
• D) After barn raisings in Midwestern farm communities, the participants would celebrate with storytelling, dancing, and drinking.

---

Definitions:

Cost of Goods Sold

The total cost of all raw materials, labor, and overhead expenses incurred to produced goods that were sold during a particular period.

Perpetual Inventory System

An accounting method that continuously updates inventory records for purchases and sales in real-time.

Periodic System

The periodic system is an inventory accounting system where updates to inventory levels are made on a periodic basis, such as monthly or yearly, rather than continuously updating with each sale or purchase.

Average Cost Method

An inventory costing method in which all goods are assigned a price based on the average cost of all units purchased, factoring in all inventory acquired.