The Purpose Of__________ Is to Pinpoint the People and Organizations

question 17

Multiple Choice

The purpose of__________ is to pinpoint the people and organizations most likely to purchase what the organization sells and to promote the appropriate products and services to those people and organizations.

• A)accounting
• B)e-commerce
• C)finance
• D)marketing

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Definitions:

Periodic Inventory System

An inventory accounting system where physical inventory counts are conducted at specific intervals to determine the cost of goods sold.

First-In, First-Out

A rephrased definition of FIFO; it's a method of stock valuation assuming that the oldest inventory items are used or sold first.

Lower of Cost or Market

Accounting principle where inventory is stated at the lower value between its original cost and current market price.

Inventory Item

A specific product or material that a company holds in stock with the intent to sell or use in the production process.