Maintaining Good Controls Over Merchandise Inventory Ensures That Inventory Purchases

question 162

True/False

Maintaining good controls over merchandise inventory ensures that inventory purchases and sales are properly authorized and accounted for by the accounting system.

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Definitions:

Mere Exposure Effect

The mere exposure effect is a psychological phenomenon by which people tend to develop a preference for things merely because they are familiar with them.

Informational Social Influence

"The influence other people have on us because we want to be right."

Principle Of Proximity

A principle in psychology that suggests objects or shapes that are close to one another appear to form groups.

Observational Learning

Learning that occurs through observing and imitating another’s behavior.