"Prolifik, a Software Startup, Received an Award for the Best

question 9

Multiple Choice

"Prolifik, a software startup, received an award for the best new innovative business." Which of the following levels of behavior does this best illustrate?

• A) Individual
• B) Group
• C) Organizational
• D) Customary

---

Definitions:

FIFO

An inventory valuation method where the first items placed into inventory are the first ones sold (First In, First Out).

LIFO

Stands for Last In, First Out, an inventory valuation method which assumes that the last items placed in inventory are sold first.

Financial Statement

Documented records that outline the financial activities and condition of a business, individual, or other entity.

LIFO Reserve

The difference between the cost of inventory calculated under the LIFO method and its cost calculated under the FIFO method.