MATCHING Identify the Letter of the Choice That Best Matches the the Phrase

question 84

Multiple Choice

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
-Calculates the present value of a series of future cash flows

• A)PPMT function
• B)rate of return
• C)IPMT function
• D)IRR
• E)PV function
• F)RATE function
• G)PMT function
• H)XIRR function
• I)FV function
• J)NPER function

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Definitions:

Weighted-Average Method

A costing method that assigns the average cost of goods available for sale to both ending inventory and cost of goods sold, weighting by the number of units.

Direct Labor Cost

The total cost of all labor directly involved in the production of goods or services, which can be easily traced to the product.

Equivalent Units

A technique in cost accounting used to allocate costs to partially completed goods, expressed in terms of fully completed units.

FIFO Method

Another term for FIFO, emphasizing its role as an accounting method where the oldest inventory items are recorded as sold first.