Professor Sanford Explains That the Need for Physical Safety Must

question 30

Multiple Choice

Professor Sanford explains that the need for physical safety must be met before city dwellers will be motivated to form close friendships with neighbors. Professor Sanford is providing an example of

• A) set points.
• B) a hierarchy of motives.
• C) homeostasis.
• D) evolutionary theory.

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Definitions:

GAAP

Generally Accepted Accounting Principles; the common set of accounting principles, standards, and procedures that companies use to compile their financial statements in the US.

Cost Flow Assumption

An accounting principle that determines how costs are allocated and reported, including FIFO (First-In, First-Out), LIFO (Last-In, First-Out), and average cost methods.

Vendor Allowances

Vendor allowances are funds provided by suppliers to a retailer for various promotional activities aimed at increasing the sale of their products.

Carrying Cost

The total cost of holding inventory, including storage, insurance, taxes, opportunity costs, and depreciation, over a certain period of time.