In One of the First Social Psychological Experiments Ever Conducted

question 114

Multiple Choice

In one of the first social psychological experiments ever conducted, researcher Norman Triplett built a "competition machine," in which children wind up a fishing reel. He found that the children were able to wind more quickly when ____.

• A)they worked as a group side by side than when they worked alone
• B)they worked alone than when they worked as a group side by side
• C)they were explicitly asked to work as fast as possible
• D)they were explicitly asked to take their time to "get it right"

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Definitions:

Perpetual Inventory

An inventory management system that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Periodic System

An accounting method used for tracking inventory where updates to the inventory account are made periodically, typically at the end of an accounting period.

LIFO Inventory

A method of inventory valuation where the last items to be added to the inventory are the first ones to be used or sold, assuming that the cost of goods sold is based on the most recent prices.

Inventory Balance

The total value of a company's inventory at the end of an accounting period, including raw materials, work-in-progress, and finished goods.