________ Seeks New Technologies by Reading Cutting-Edge Research Journals and Attending

question 80

Multiple Choice

________ seeks new technologies by reading cutting-edge research journals and attending conferences and seminars.

• A) Social audit
• B) Gap analysis
• C) Environmental scanning
• D) Internal analysis
• E) Open-book management

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Definitions:

Method Of Cost Formula

The Method of Cost Formula refers to an accounting approach used to determine the value of inventory sold and remaining in stock, such as FIFO (First-In, First-Out), LIFO (Last-In, First-Out), and Average Cost Method.

Physical Inventory Count

A physical inventory count is the manual process of counting all the goods a company physically has on hand at a specific time to verify stock records and values.

First-In, First-Out

An inventory valuation method where the goods first produced or acquired are sold or used first, presuming that the oldest inventory items are consumed before newer ones.

Ending Inventory

The value of goods available for sale at the end of an accounting period, after purchases and sales have been accounted for.