Match the Terms with the Definitions

question 81

Multiple Choice

Match the terms with the definitions.
-A method of estimating inventory in which a business's normal gross profit percentage is used to estimate the cost of goods sold and ending inventory.

• A)average cost
• B)conservatism
• C)perpetual inventory system
• D)market value
• E)consignor
• F)consistency
• G)cost
• H)first-in, first-out method
• I)gross profit method
• J)last-in, first-out method
• K)inventory sheet

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Definitions:

Empowerment

Providing individuals with the authority, confidence, and means to increase control over their own lives or work.

Observes

The act of carefully watching or monitoring something or someone to gather information.

Behavior

How a person or a group acts or responds when influenced by stimuli from the environment or from within themselves.

Individual Piece-Rate System

A compensation system where employees are paid based on the number of units they produce or tasks they complete.