Displacement Is Which of the Following Types of Quantities

question 27

Multiple Choice

Displacement is which of the following types of quantities?

• A)vector
• B)scalar
• C)magnitude
• D)dimensional

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Definitions:

Updated inventory value

The revised total cost or market value of all inventory items a company holds, adjusted for additions, subtractions, and valuation changes over a specific period.

LIFO method

Last In, First Out; an inventory valuation method where the most recently produced or purchased items are the first to be expensed.

Periodic system

An inventory valuation method where updates to inventory records are made on a periodic basis, usually at the end of an accounting period.

Beginning inventory

The value of a company's inventory at the start of an accounting period.