Hawk Store Counted Some of Its Inventory Twice

question 201

Multiple Choice

Hawk Store counted some of its inventory twice.As a result, its operating expenses will be

• A) Understated
• B) Correct only if Hawk Store calculates it cost of goods sold correctly
• C) Overstated
• D) Correct since operating expenses are not affected by inventory costs

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Definitions:

Iconic Memory

A form of sensory memory that holds a brief visual impression of a scene after the exposure to the original stimuli has ended.

Repetition

The action of repeating something that has already been said or done, often for the purpose of learning or emphasis.

Recall

The cognitive process of retrieving information or memories from the past.

Relearning

The process of regaining knowledge or skills that were previously learned then forgotten, which typically occurs faster than the initial learning.