Maslow's Needs Hierarchy Explicitly Names the Following Needs EXCEPT

question 210

Multiple Choice

Maslow's needs hierarchy explicitly names the following needs EXCEPT:

• A)power.
• B)self-actualization.
• C)safety.
• D)esteem.
• E)belongingness.

Understand the components and significance of a voucher system in controlling cash receipts and disbursements.

Comprehend the cost-benefit principle underlying the adoption of internal control features by a company.

Recognize the responsibility of management in establishing an effective system of internal control.

Appreciate the objectives of a system of internal control, including the safeguarding of assets.

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated either by a physical count or by using inventory accounting methods.

LIFO Perpetual

An inventory valuation method that records inventory transactions continuously and assumes the last items purchased are the first to be sold.

Cost Of Goods Sold

The immediate expenses incurred in producing goods that a company sells, including materials and the workforce.

Inventory Records

Documentation that tracks the quantity, cost, and type of products a company has in stock at any given time.