When a Group Member Drops Out Without Informing the Group

question 8

True/False

When a group member drops out without informing the group as to the reasons, the leader should maintain the confidentiality of that member and not inform the remaining members as to the reason.

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Definitions:

Gross Method

An accounting method where purchases and sales are recorded at their gross amounts before any trade discounts are taken into account.

Credit Terms

The agreed upon conditions between a buyer and a seller regarding the amount and timing of payment for goods or services.

Periodic Inventory System

An inventory system where stock levels and cost of goods sold are calculated at the end of an accounting period, rather than updated continuously.

Net Method

An accounting method that records purchases after deducting any available discounts, directly showing the net purchase cost.