Kathryn Spent $30 to Buy 10 Apples at $1 Each

question 93

Multiple Choice

Kathryn spent $30 to buy 10 apples at $1 each and 4 pineapples at $5 each. What other combination of fruit could Kathryn have purchased with her $30?

• A) 8 apples and 6 pineapples
• B) 20 apples and 2 pineapples
• C) 35 apples and 1 pineapple
• D) 0 apples and 8 pineapples

Apply the concept of the lower of cost or net realizable value (NRV) in inventory valuation.

Understand the operational and financial considerations in selecting inventory systems (perpetual or periodic) and costing methods.

Calculate and interpret inventory turnover ratio and understand its implications on business efficiency.

Understand the priority of claims and expenses in the administration of an estate.

---

Definitions:

High-Context

Pertains to cultures or communication styles where much of the message is conveyed through non-verbal cues and the context of the communication.

Low-Context Cultures

Cultures where communication is explicit, messages are direct, and understanding is based on verbal instructions rather than context.

Dominant Culture

The cultural beliefs, practices, and values that are predominant within a society, influencing its social norms and way of life.

Ethnic Stereotyping

The act of attributing oversimplified characteristics to members of a specific ethnic group.