Nora Is a Small-Business Owner Who Loves to Take Risks

question 21

Multiple Choice

Nora is a small-business owner who loves to take risks. She also enjoys going out and meeting customers and potential clients-the social aspect of her job. Nora relies on intuition and discussions with others to acquire information. As an interior decorator, Nora utilizes her imaginative strengths, taking a broad perspective to problem solving, and she likes to consider many options and future possibilities. Nora's decision-making style is best described as

• A) directive.
• B) conceptual.
• C) ambiguous.
• D) behavioral.
• E) analytical.

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Definitions:

Closing Inventory

The quantity and value of stock on hand at the end of an accounting period.

Direct Material

Raw materials that can be directly attributed to the production of goods.

Finished Products

Goods that have completed the manufacturing process and are ready for sale.

Beginning Inventory

The value of goods available for sale at the start of an accounting period.