Friedman Et Al

question 43

Multiple Choice

Friedman et al. (2012) had American and Canadian college students examine maps of California and Alberta.Either the maps were marked only with dots and not marked with city names or the maps were marked with dots and the city names associated with the state or province.The results of their study:

• A)refuted years of research on cognitive maps.
• B)were consistent with a view in which cognitive maps are influenced by semantic categories.
• C)showed that dot distance was not a identifiable feature of semantic memory.
• D)none of the above.

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Definitions:

Average Cost Method

An inventory valuation method that calculates the cost of goods sold and ending inventory based on the average cost of all similar items in inventory.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.

Units

The basic quantities or measures used to quantify and track inventory, production, and sales.

Periodic Inventory System

A method of inventory valuation for financial reporting purposes where a physical count of the inventory is performed at specific intervals and the cost of goods sold is calculated at the end.