The Changing Demographics of a Population Over an Extended Period

question 51

Multiple Choice

The changing demographics of a population over an extended period can give managers insight into future ________.

• A) diversity management challenges
• B) competition level in the market
• C) prices that their product will command
• D) changes in the technological environment
• E) legislature they will have to deal with

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Definitions:

Cost Flow Assumption

Accounting methods that companies use to assign costs to inventory and cost of goods sold, such as FIFO, LIFO, and weighted average cost.

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from total sales revenue.

Average Cost Methods

The average cost method is an inventory costing method where all costs of inventory are averaged out and applied to the cost of goods sold and ending inventory.

Security Measures

Steps or protocols implemented to protect assets, information, and people from theft, damage, and unauthorized access.