After Starting a Web Design Company While Still in College,Alejandro

question 15

Multiple Choice

After starting a web design company while still in college,Alejandro sold the company after graduation.He then opened a computer repair shop; and most recently,he has started a marketing firm that specializes in social media.Alejandro is an example of a(n)

• A)serial entrepreneur.
• B)social entrepreneur.
• C)lifestyle entrepreneur.
• D)classic entrepreneur.

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Definitions:

Perpetual Inventory System

An accounting method that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

FIFO

First In, First Out, an inventory valuation method where goods purchased or produced first are sold or used first.

LIFO

An inventory valuation method, "Last-In, First-Out," where the most recently produced items are recorded as sold first.

Average Cost

A method of inventory valuation which calculates the cost of goods sold based on the average cost of all similar items in inventory.