Midway Through a Unit on How Mountains Are Formed, Mr

question 111

Multiple Choice

Midway through a unit on how mountains are formed, Mr.McDonald gives a brief quiz to find out what students do and do not understand.He plans to focus the next few classes on the things about which students are most confused.Which one of the following does Mr.McDonald's quiz exemplify?

• A)A performance assessment
• B)A norm-referenced test
• C)Authentic assessment
• D)Formative evaluation

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Definitions:

Selling Expense

Costs incurred directly and indirectly in making sales; these can include advertising, sales staff salaries, and commissions.

Periodic Inventory Method

An accounting method that updates inventory and cost of goods sold figures at the end of an accounting period, not at each sale.

Cost Of Merchandise Sold

The total cost incurred to purchase or produce the goods that have been sold to customers during a specific period.

Gross Profit

The difference between revenue and the cost of goods sold, indicating the amount before deducting operating expenses.