Questions That Address What Did,will or Would Actually Happen Are

question 14

Multiple Choice

Questions that address what did,will or would actually happen are called ________ questions.

• A) normative
• B) positive
• C) efficiency
• D) equity

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Definitions:

Beginning Finished Goods

The inventory of finished products available for sale at the start of an accounting period.

Ending Finished Goods

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

Production Budget

An estimate of the total cost of production, including materials, labor, and overhead, for a specific period.

Beginning Finished Goods

Refers to the inventory of completed products that a company has on hand at the start of an accounting period.