Companies Have the Choice of Physically Counting Inventory on Hand

question 185

True/False

Companies have the choice of physically counting inventory on hand at the end of the year or using the gross profit method to estimate the ending inventory.

---

Definitions:

Self-handicapping

A cognitive strategy where individuals create obstacles and excuses for themselves to avoid blame in case of failure.

Procrastination

The action of delaying or postponing tasks or decisions, often leading to stress, anxiety, and lower performance.

Self-serving Strategies

Behaviors or attitudes adopted by individuals or groups that prioritize personal gain, often at the expense of others or ethical principles.

Self-serving Strategy

A cognitive or behavioral tactic intended to advance one’s own interest at the expense of others or disregard for others’ needs.