When Madelina Accuses Joel of Cheating on Her,Joel Admits That

question 4

Multiple Choice

When Madelina accuses Joel of cheating on her,Joel admits that he did go out with someone else,but only to help her through a difficult time.He then reassures Madelina that he is still in love with her and tells her not to worry.How would Joel's account most appropriately be labeled?

• A)reproach
• B)justification
• C)excuse
• D)absence of an account

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Definitions:

Damaged Goods

Items that are physically harmed and are reduced in value, typically making them unsellable at full price.

Consigned Goods

Items given to a third party to sell, but ownership remains with the sender until sold.

Periodic Inventory System

A method of inventory valuation where inventory and cost of goods sold are determined at the end of an accounting period.

FIFO Method

"First In, First Out," an inventory valuation method where goods purchased or manufactured first are sold or used first, affecting the cost of goods sold and ending inventory valuation.