The Worker of a Company Earns a Wage That Provides

question 85

Multiple Choice

The worker of a company earns a wage that provides with him good food, shelter, and a good standard of living. According to the progression principle, which of the following needs is most likely to motivate him next?

• A) Recognition
• B) Mastery
• C) Protection
• D) Self-fulfillment
• E) Affection

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Definitions:

Cost Flow Assumption

An accounting method that determines the cost of goods sold and ending inventory valuation, examples include FIFO, LIFO, and weighted average.

LIFO

Last In, First Out, is an inventory valuation method assuming that goods purchased last are the first to be sold.

FIFO

First In, First Out, a method used in accounting to manage inventory and financial matters where the first items placed in inventory are the first sold or used.

Average Cost

A method of inventory valuation that calculates the cost of goods sold and ending inventory based on the weighted average cost of all goods available for sale.