Make a Preference Table for the Given Voting Situation Determine the Winner Using the Plurality Method and If the Condominium

question 44

Multiple Choice

Make a preference table for the given voting situation.
-A condominium association is holding an election for president of the board of directors. Each Member ranks the candidates from first to third. The preference table below shows the results of The ballots with candidates Abbott(A) , Blake (B) , Cleary (C) , and Downs (D) . $$\begin{array} { l l l l l l l l l l } \hline \text { Number of Votes } & 3 & 7 & 5 & 8 & 7 & 4 & 6 & 6 & 4 \\\hline \text { First } & \text { A } & \text { B } & \text { A } & \text { A } & C & \text { B } & \text { D } & C & C \\\text { Second } & \text { C } & \text { A } & B & C & D & D & B & B & A \\\text { Third } & \text { B } & C & C & D & \text { A } & \text { A } & \text { A } & D & D \\\text { Fourth } & \text { D } & D & D & B & B & C & C & A & B \\\hline\end{array}$$
Determine the winner using the plurality method and if the winner received a majority of first Place votes.

• A) Cleary; Yes
• B) Abbott; Yes
• C) Abbott; No
• D) Cleary; No

Discuss the theoretical and practical considerations in the selection of inventory costing methods.

Understand the impact of inventory liquidation under the LIFO cost flow assumption.

Recognize the operational distinctions between periodic and perpetual inventory systems and their comparative advantages.

Understand the accounting treatments and presentation in financial statements of compensating balance agreements.

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Definitions:

Convergent Validity

The extent to which two measurements of constructs, which are expected to have a theoretical correlation, actually do exhibit a relationship.

Reactivity

The alteration of the behavior of study participants due to their awareness of being observed.

Interval Scale

A type of scale used in measurements that expresses the order of variables and also establishes a defined distance between variables, but lacks a true zero point.

Ordinal Scale

A scale of measurement where objects or individuals are categorized based on some order or ranking, without information on the magnitude of differences.