An Assumption About Cost Flow Is Necessary

question 139

Multiple Choice

An assumption about cost flow is necessary

• A) because it is required by the income tax regulation.
• B) even when there is no change in the purchase price on inventory.
• C) only when the flow of goods cannot be determined.
• D) because prices usually change, and tracking which units have been sold is difficult.

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Definitions:

Primacy Effect

The tendency to remember information at the beginning of a list better than the information that follows.

First Impression

the initial perception one person has of another upon meeting, which can significantly influence future perceptions and interactions.

Impression Formation

The forming of the first knowledge that a person has concerning another person.

Social Interaction

The process by which individuals act and react in relation to others, forming the basis of social structure and societal norms.