Use the Table Below to Answer the Following Questions

question 60

Multiple Choice

Use the table below to answer the following questions.
Table 9.4.1

-Refer to Table 9.4.1.If the official settlement balance was in balance every year, for which year or years can you say for sure there was a current account surplus?

• A)years 2 and 3
• B)years 3 and 4
• C)year 4 only
• D)years 1 and 2
• E)year 2 only

Recognize the effects of errors in inventory accounting on financial statements.

Understand the implications of inventory errors on financial statements.

Compute the estimated cost of ending inventory using the gross profit method.

Determine the estimated cost of ending inventory using the retail inventory method.

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Definitions:

Stimulus Generalization

The tendency for a conditioned response to be elicited by stimuli that are similar but not identical to the conditioned stimulus.

Manual Transmission

A type of gearbox used in vehicles, allowing the driver to manually select and change gear ratios.

Automatic Transmission

A type of vehicle transmission that automatically changes gear ratios as the vehicle moves, freeing the driver from having to shift gears manually.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, through which an individual makes associations between certain behaviors and their consequences.