Since the First Days of Computers,the Phrase "____________________" Has Described

question 97

Short Answer

Since the first days of computers,the phrase "____________________" has described the fact that allowing incorrect input data into a program produces incorrect output.

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Definitions:

Costing Inventories

The process of determining the value of inventory, including the costs associated with acquiring or producing the goods.

Physical Flow

The movement and tracking of physical goods and materials through the production process or supply chain.

Inventory Costing Method

An approach used to value inventory and determine the cost of goods sold, including methods like FIFO, LIFO, and weighted average.

Cost Flow Assumption

A method used in accounting to determine the value of inventory sold and remaining in stock, common methods include FIFO, LIFO, and weighted average.