Proxy Data

question 66

Multiple Choice

Proxy data

• A) are not seen as they are created.
• B) are remnants of an event left behind.
• C) are based on a theory developed by Edmund Locard.
• D) are the result of information exchanged when two things come into contact.
• E) all of the other choices.

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Definitions:

Inventory Value

The total cost or market value of all the goods held by a company that are ready or will be ready for sale.

FIFO Inventory

An accounting method where the first items added to inventory are the first ones considered sold.

Net Realizable Value

The estimated selling price of goods minus the cost of completion and the costs necessary to make the sale.

Lower Of Cost

A accounting principle that mandates reporting the cost of inventory and other assets at the lower of their original cost or current market value.