According to a Survey of a Class of Marketing Students,most

question 87

Multiple Choice

According to a survey of a class of marketing students,most students typified selling as:

• A)A career opportunity with ever-increasing opportunities.
• B)Comprised of helpful and informative individuals.
• C)Populated by pushy or obnoxious door-to-door salesman types.
• D)A highly prestigious job for the next century.
• E)An area of marketing they would most like to target for their professional lives.

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Definitions:

Average cost method

An inventory costing method that assigns the average cost of all similar items to the cost of goods sold and to ending inventory.

Periodic system

An inventory accounting system that updates inventory balance and cost of goods sold at the end of an accounting period.

Ending inventory

The total value or quantity of goods on hand at the end of an accounting period.

LIFO method

An inventory cost-flow assumption where the last items purchased or produced are the first to be expensed as sold, opposite of FIFO.