___________ Is the Process by Which Distinct Groups Merge and Become

question 126

Multiple Choice

___________ is the process by which distinct groups merge and become integrated as one.

• A)Pluralism
• B)Colonialism
• C)Segregation
• D)Assimilation

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Definitions:

Periodic System

An inventory accounting system where updates to inventory levels and cost of goods sold are made at the end of an accounting period.

Purchase Discounts

Reductions in the price of goods purchased, usually as a reward for early payment to the supplier.

Freight-In

The cost associated with getting inventory to a business, usually included in the cost of goods sold.

GAAP

The collection of standard accounting practices widely recognized for financial reporting is called Generally Accepted Accounting Principles.