Which of the Following Are Examples of Categories of the Main

question 36

Multiple Choice

Which of the following are examples of categories of the main normative accounting theories that were developed in the 1950s and 1960s?

• A) current-cost accounting and conservatism
• B) critical theory and opportunity-cost accounting
• C) ABC costing and historical-cost accounting
• D) deprival-value accounting and exit-price accounting

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Definitions:

Average Cost Retail Inventory Method

A method used in retail to estimate ending inventory value by combining the cost-to-retail price ratio with the retail price of goods available for sale.

Ending Inventory

The cumulative worth of products ready for purchase at the close of a financial cycle.

Employee Discounts

Reductions in price offered to employees of a company as a part of their employment benefits, encouraging them to purchase products or services from the employer.