Best Value Company Started Its Operations on January 1,2017

question 77

Multiple Choice

Best Value Company started its operations on January 1,2017.It engages in buying and selling different types of electronic gadgets.The first step in its operating cycle would be to ________.

• A)collect cash from customers
• B)sell goods to customers
• C)purchase inventory from vendors
• D)record the sales in accounts

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Definitions:

Social Norms

The unwritten rules that dictate the acceptable behavior within a society or group.

Communication Systems

Systems that enable transfer of information between entities to facilitate comprehension and process coordination.

Norms

Shared beliefs or standards of behavior that are considered acceptable within a particular society or group.

Socially Acceptable

Refers to behaviors or actions that are generally considered appropriate, polite, or conforming to the norms and values of a society or community.