Which Statement Is Correct About the System Used to Account

question 44

Multiple Choice

Which statement is correct about the system used to account for inventories?

• A)Organizations must use the perpetual system to determine the amount of inventory and cost of goods sold.
• B)The perpetual system is used to determine the amount of inventory and the periodic system is used to determine the cost of goods sold.
• C)The perpetual and periodic system are both acceptable methods to use for inventory control.
• D)The balance sheet under the perpetual system is different than that under the periodic system.

Identify examples of specific defense mechanisms in daily life situations.

Distinguish between different defense mechanisms such as displacement, regression, and projection.

Recognize the role of denial in avoiding reality.

Identify the psychological response to stress or threat in terms of defense mechanisms.

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Definitions:

Marginal Revenue Product

Extra profits generated by incorporating another unit of a production element.

Worker

An individual engaged in a particular labor or job to earn a living, contributing to the production process.

MRP

Marginal Revenue Product, an economic theory stating the additional revenue generated from employing one more unit of a factor of production, like labor.

Wage Rate

The amount of money paid per unit of time or per task for labor or services.