Orest Is in a Good Mood Because He Just Found

question 22

Multiple Choice

Orest is in a good mood because he just found $10 in the hallway at school. Suddenly, he walks next to someone who needs help. Because he is in a good mood, he is

• A)likely not to notice.
• B)more likely to help.
• C)less likely to be helpful.
• D)not likely to be affected by his mood.

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Definitions:

Gross Profit Method

An accounting technique used to estimate inventory levels and cost of goods sold by utilizing the gross profit margin.

Net Sales

The total revenue from sales minus returns, allowances for damaged or missing goods, and discounts.

Moving-Average Method

The Moving-Average Method is an inventory costing method that averages the costs of inventory over time to determine the value of sold and remaining stock.

Perpetual Inventory System

An inventory control method that records the sale or purchase of inventory in real-time through the use of computerized systems.