The Difference Between Whether an Achievement Test Item Is Said

question 142

Multiple Choice

The difference between whether an achievement test item is said to be fact-based or conceptual has to do in large part with the extent to which

• A) the content of the item is indeed factual or merely opinion-based.
• B) concepts referred to in the test item are presented clearly.
• C) rote memory alone can be used to access the correct response.
• D) the testtaker believes that the content has a true basis in fact.

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Definitions:

LIFO Assumption

A method of inventory valuation where the last items placed into inventory are the first ones to be used or sold.

Inventory Costing Method

A system used to assign costs to inventory and determine the cost of goods sold, examples include FIFO, LIFO, and weighted average.

Declining Prices

A market condition where the prices of goods or services decrease over time, often indicating a surplus or decreased demand.

Net Income

The net income of a business, which is obtained by deducting all costs and taxes from its total revenue.