Critical Thinking: After Drinking a Six-Pack of Beer with Friends on Halloween

question 66

Multiple Choice

Critical Thinking:
After drinking a six-pack of beer with friends on Halloween night, Taylor Brady is seen throwing rocks at a car belonging to Carson Pullman, a neighbor with whom Brady has had disagreements in the past. The police are called to the scene and, after questioning Brady and several witnesses, take Brady into custody. At the station house, they administer a blood alcohol test, which indicates that Brady's blood alcohol level is .09%. Taylor is charged with public intoxication.
-In this case, a sentence of probation might involve the condition that Taylor:

• A) perform specific deterrence
• B) be incarcerated in the state penitentiary
• C) make restitution
• D) engage in plea bargaining

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period, determined by physical counts or accounting methods.

LIFO

Stands for Last In, First Out, an inventory valuation method where the most recently produced or purchased items are recorded as sold first.

Periodic Inventory System

An inventory accounting system where inventory counts are performed and updated at specific intervals to determine cost of goods sold and ending inventory levels.

Ending Inventory

The value of goods available for sale at the end of an accounting period. It is the beginning inventory plus purchases minus the cost of goods sold.