Fake News

question 63

Multiple Choice

Fake news

• A) never existed until the 2016 presidential election.
• B) is news that is, while open to interpretation, deliberately made up for profit or to influence politics.
• C) is based on the reality that American politics does not involve much conflict.
• D) exists despite Americans having deep knowledge of politics and public affairs.

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Definitions:

First-in

Refers to the 'First-In, First-Out' (FIFO) inventory valuation method where the first items acquired are the first ones sold.

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, converting them into the amount of finished goods units.

Equivalent Units

An approach utilized in process costing to translate partially finished units into an equivalent number of completely finished units.

First-in

A principle often related to inventory valuation where the earliest goods purchased or produced are the first ones to be sold or used.