The Inventory Valuation Method That Has the Advantages of Assigning

question 103

Multiple Choice

The inventory valuation method that has the advantages of assigning an amount to inventory on the balance sheet that approximates its current cost,and also mimics the actual flow of goods for most businesses is:

• A)FIFO.
• B)Weighted average.
• C)LIFO.
• D)Specific identification.
• E)Lower of cost or market.

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Definitions:

Negative Reinforcement

involves the strengthening of a behavior because a negative condition is stopped or avoided as a consequence of the behavior.

Secondary Reinforcer

A stimulus that acquires its reinforcing capabilities by being linked with a primary reinforcer.

Primary Reinforcer

A naturally reinforcing item or outcome, such as food or water, that does not require learning to be considered rewarding.

Unconditioned Stimulus

In classical conditioning, a stimulus that naturally and automatically triggers a response without the need for prior learning.