Choose the Word or Phrase in [ ] Which Will

question 42

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Life insurance [will | will not] pay proceeds if an insured is killed in a commercial airline crash.

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Definitions:

Perpetual System

An inventory accounting system that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

FIFO Method

A method used in accounting to value inventory and determine cost of goods sold, assuming the oldest inventory items are sold first.

Material Q

Material Q seems not to be a standard key term in most contexts and without further context appears to be NO.

Job Order Costing

A cost accounting system used to accumulate costs for individual jobs or orders, suitable for companies producing unique or custom products.