Case 20-1 Matt Is Teaching His Grandmother How to Use E-Mail. He

question 25

Multiple Choice

Case 20-1
Matt is teaching his grandmother how to use e-mail. He is starting with a lesson on how to use the address book. Please answer the questions below.
-Matt also explains to his grandmother that to add a new contact she could simply use the New ____ button to add individual e-mail addresses in Outlook.

• A)Friend
• B)Contact
• C)Associate
• D)Peer

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Definitions:

Weighted-Average Method

An inventory valuation technique that calculates the cost of inventory by taking the average cost of all similar items present in the inventory.

First-In, First-Out Method

An inventory valuation method whereby the oldest inventory items are recorded as sold first, thus the cost of items purchased first is charged against revenue earlier.

Equivalent Units

A concept used in cost accounting to convert units of production into a common measure.

First-In, First-Out Method

An inventory valuation method where the oldest inventory items are recorded as sold first, leaving the newest inventory in stock.