What Is True About the Skills Gap

question 29

Multiple Choice

What is true about the skills gap?

• A)Both Germany and Japan have done a better job of teaching basic skills than has the U.S.
• B)The U.S.has done a better job of teaching basic skills than has the Japan.
• C)The U.S.has done a better job of teaching basic skills than has the Germany.
• D)There is no skills gap for basic knowledge in the U.S.

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Definitions:

FIFO

An inventory valuation method that assumes that the first items put into inventory are the first ones sold.

Beginning Inventory

The value of a company’s inventory at the start of an accounting period, carried over from the end of the previous period.

Periodic Inventory System

An accounting method where inventory and cost of goods sold are determined at the end of a period through a physical count.

FIFO Inventory

A method of inventory valuation where the first items produced or acquired are the first ones sold, FIFO stands for "First In, First Out."