Which of the Following Is the Best Example of a Good

question 11

Multiple Choice

Which of the following is the best example of a good or service with an external benefit?

• A) gasoline
• B) education
• C) garbage disposal
• D) fertilizers
• E) bread

Recognize the importance of physical inventory counts in both perpetual and periodic inventory systems.

Define and categorize Cost of Goods Sold and operating expenses for merchandising companies.

Master diverse terms and concepts related to inventory management, sales, and accounting practices for merchandising companies.

Understand the difference between periodic and perpetual inventory systems including the calculation and timing of cost of goods sold.

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Definitions:

Conditioning

A method of modifying behavior in which an individual learns to connect a previously neutral stimulus with a behavior that is sought after.

Optimum Interstimulus Interval

The ideal time gap between the presentation of a conditioned stimulus and an unconditioned stimulus for effective associative learning to occur.

Knee-Jerk Reflex

A reflexive action produced by a sharp tap on the tendons just below the kneecap, demonstrating the patellar reflex.

CS

Stands for Conditioned Stimulus, which is a previously neutral stimulus that, after becoming associated with an unconditioned stimulus, eventually comes to trigger a conditioned response.