What Is the Internal Control Advantage of Using the Net

question 55

Multiple Choice

What is the internal control advantage of using the net method of accounting for merchandise purchases?

• A) It highlights the inefficiency of losing purchase discounts.
• B) It guarantees that all purchase discounts will be taken.
• C) It automatically increases a firm's net income.
• D) It results in a higher quality of inventory on hand for customers.

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Definitions:

Inclusive Fitness

A concept in evolutionary biology that refers to an individual's genetic success as measured not only by its own offspring but also by the offspring of its relatives, considering the shared genetic heritage.

Altruism

The principle or practice of concern for the welfare of others, often at the expense of one's self-interest.

Reproductive Success

The extent to which an organism passes its genes to the next generation, often measured by the number of offspring that survive to reproduce.

Lever

A rigid bar resting on a pivot, used to help move a heavy or firmly fixed load with one end when pressure is applied to the other.