Use the Following Information for Questions 114 Through 118

question 65

Short Answer

Use the following information for questions 114 through 118.
The following data concerning the retail inventory method are taken from the financial records of Welch Company.
-If the foregoing figures are verified and a count of the ending inventory reveals that merchandise actually on hand amounts to $108,000 at retail, the business has
A) realized a windfall gain.
B) sustained a loss.
C) no gain or loss as there is close coincidence of the inventories.
D) none of these answer choices are correct.

• A) realized a windfall gain.
• B) sustained a loss.
• C) no gain or loss as there is close coincidence of the inventories.
• D) none of these answer choices are correct.

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Definitions:

Variable Ratio

A reinforcement schedule where a response is rewarded after an unpredictable number of responses, making it a powerful method for conditioning stable and high rates of responding.

Reinforcement

In operant conditioning, a consequence that will strengthen an organism's future behavior whenever that behavior is preceded by a specific antecedent stimulus.

Responses

Reactions or behaviors produced by an organism in response to a specific stimulus or situation.

Continuous Reinforcement

is a method of learning where a desired behavior is reinforced each time it occurs, leading to faster acquisition of the behavior.