Phillips Corp

question 51

Multiple Choice

Phillips Corp.purchased raw materials with a catalog price of $60, 000.Credit terms of 3/15, n/60 apply.If Phillips uses the net price method, the purchase should be recorded at

• A)$61, 800
• B)$60, 000
• C)$58, 200
• D)$51, 000

---

Definitions:

Need For Achievement

A psychological drive that motivates individuals to attain success and excellence in their endeavors.

Need For Affiliation

The need for affiliation is a psychological and social drive that compels individuals to associate with others and form social relationships.

Need For Power

An individual's desire to influence, control, or have authority over others.

McClelland

Refers to David McClelland, a psychologist known for his work on motivation theory, which includes the needs for achievement, power, and affiliation.