When Using a Perpetual Inventory System

question 17

Multiple Choice

When using a perpetual inventory system,

• A)no Purchases account is used.
• B)a Cost of Goods Sold account is used.
• C)two entries are required to record a sale.
• D)all of these.

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Definitions:

Group Pressures

The influence exerted by a social group on individual members to behave in certain ways or conform to group norms and expectations.

Conformity

The act of changing one's behavior or beliefs in order to match those of others, typically as a result of real or imagined group pressure.

Door-In-The-Face Technique

A compliance method whereby a large request is made knowing it will be refused so that a subsequent, smaller request is more likely to be accepted.

Large First Request

A persuasion technique where a more significant request is made initially, expected to be refused, followed by a smaller request, which seems more reasonable by comparison.