Match the Terms with the Descriptions Provided

question 215

Multiple Choice

Match the terms with the descriptions provided.
-In the periodic inventory system, the account used to record the cost of merchandise acquired for resale.

• A)Consignment
• B)Discount period
• C)Inventory
• D)LIFO Reserve
• E)Lower of cost or market rule
• F)Purchase allowance
• G)Purchase discounts
• H)Purchase returns
• I)Purchases

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Definitions:

Organizational Behaviour

The study of how individuals and groups act within organizations, and the impact of these behaviors on organizational effectiveness.

Formal Means

Formal means involve structured, official, and typically documented methods or procedures used to accomplish tasks or maintain order in organizations.

Pay

Compensation or wages received by an employee in exchange for their labor or services provided to an employer.

Promotions

The process of elevating an employee to a higher position or rank within an organization, often accompanied by increased responsibilities and pay.