Ecologists Study

question 12

Multiple Choice

Ecologists study

• A) communities.
• B) ecosystems.
• C) individual organisms.
• D) populations.
• E) All of the choices are correct.

---

Definitions:

Inventory Valuation Method

The approach a company uses to determine the cost of its inventory, affecting the cost of goods sold and profitability; common methods include FIFO, LIFO, and weighted average.

Financial Statements

Formal reports detailing the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.

Net Income

The total earnings of a company after subtracting all expenses, including taxes and operating costs.

LIFO Inventory Valuation

Last-in, first-out method, an inventory costing method where the last items purchased are the first ones considered sold.