What Are the Four Steps of Problem Solving

question 114

Multiple Choice

What are the four steps of problem solving?

• A)Understand the problem,make a plan,carry out the plan,and look back.
• B)Plan an approach,define the problem,evaluate progress,and carry out the plan.
• C)Look back on past experiences,develop a plan,narrow in on the problem,and move forward.
• D)Research options,develop an algorithm,follow the prescribed steps,and complete the process.

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Definitions:

Contra Accounts

Accounts used in the accounting ledger to reduce the value of a related account when the two are netted together.

Perpetual Inventory

An inventory management system where updates are made continuously as inventory items are bought and sold.

Cash Sales

Transactions in which the buyer pays for a good or service at the time of the sale with cash or its equivalent.

Cost of Merchandise

The total expense incurred by a business to buy or produce the goods it has sold during a specific period.