The Element of Certainty in a Group Involves

question 2

Multiple Choice

The element of certainty in a group involves:

• A)how an individual perceives others.
• B)a person feeling that he/she is in control of his/her life.
• C)confidence in understanding how to behave and interact in situations.
• D)knowing when you are correct and incorrect.

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Definitions:

Moving-average Cost Method

An inventory valuation method that averages the costs of inventory over a period to calculate the cost of goods sold and ending inventory valuation.

Average-cost Method

The average-cost method is an inventory costing method that assigns an average cost to each item in inventory, used to determine the cost of goods sold and ending inventory values.

Weighted-average Cost Method

This inventory costing method assigns a weighted average cost to each unit in inventory, used to calculate cost of goods sold and ending inventory.

Lower-of-cost-or-market

An accounting principle that states assets should be recorded at the lower value of either its cost or its market value.