Explain the Basic Premise of Equity Theory as It Applies

question 72

Essay

Explain the basic premise of equity theory as it applies to the workplace. What are two steps that a person experiencing distress within this model might take to reduce their discomfort? Give an example of how this might play out in a real workplace situation.

Understand the perpetual and periodic inventory systems and their implications for financial accounting.

Recognize sales discounts and how they are recorded in accounting transactions.

Understand how the return of merchandise impacts financial records.

Distinguish between various financial statements and their primary purposes.