The Degree to Which Information Includes Data About Every Relevant

question 60

Multiple Choice

The degree to which information includes data about every relevant object or event necessary to make a decision is

• A) accuracy
• B) completeness
• C) neutrality
• D) comparability

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Definitions:

Retail Method

An accounting technique used to estimate inventory value by calculating a cost to retail price ratio and applying it to the ending inventory at retail prices.

Merchandise Inventory

The total value of a retailer's goods that are available for sale to customers.

Estimated Cost

A prediction or forecast of the future cost of a project, operation, or production based on current data and trends.