According to the Davis-Moore Thesis

question 14

Multiple Choice

According to the Davis-Moore thesis:

• A) equality is functional for society.
• B) the more inequality a society has, the more productive it is.
• C) more important jobs must provide enough rewards to attract the talent necessary to perform them.
• D) meritocracy is less productive than a caste system.

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Definitions:

Retail Inventory Method

An accounting technique used to estimate inventory value by converting retail prices to cost prices.

Cost To Retail Ratio

A method to estimate the value of ending inventory and cost of goods sold based on the ratio of cost to the retail price of goods.

Ending Inventory

The cost of items on offer at the close of an accounting term.

FIFO

"First-In, First-Out," an inventory management and valuation method where the earliest goods acquired are the first sold or used.