A _________ Is a Category of People Who Are Recognized

question 45

Multiple Choice

A _________ is a category of people who are recognized as distinct based on the basis of a social or cultural criteria such as religion or nationality.

• A) Racial group
• B) Ethnic group
• C) Minority group
• D) Majority group

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Definitions:

FIFO Perpetual

An accounting method where the first items placed in inventory are the first ones sold, continuously tracking inventory levels.

LIFO Perpetual

A method of inventory valuation where the last items acquired are the first to be used or sold, continuously updated to reflect remaining inventory.

Average Cost Periodic

A costing method where the cost of goods sold and ending inventory are valued at the average cost of all goods available for sale during the period.

Periodic Inventory System

An inventory management method where stock levels are updated at specific intervals through physical counts.