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In a period of rising prices, the effect of selecting the FIFO rather than the LIFO method of inventory valuation results in:
Imaginative
Characterized by the ability to think of new and original ideas or concepts beyond conventional patterns.
Improvisation
The act of creating or performing something spontaneously without prior preparation.
"Yes,and"
A principle stemming from improvisational theater that encourages the acceptance of contributed ideas and building upon them, often used to foster creativity and collaboration.
Entrepreneurial Self-efficacy
The belief in one's capability to organize and execute the courses of action required to manage prospective situations in entrepreneurship.
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