Define the Following Terms

question 39

Short Answer

Define the following terms
-concurrent validity

---

Definitions:

Allocation System

A method of distributing resources, costs, or revenues among various departments, products, or activities based on predetermined criteria.

Cost Control

The practice of managing and reducing business expenses through efficient use of resources.

Ending Inventory Policy

A company's method for valuing goods remaining unsold at the end of an accounting period.