Choose the Preferred Element to Use When Displaying Text in a Bold

question 21

Multiple Choice

Choose the preferred element to use when displaying text in a bold font style when there is no special importance to the words in the text.

• A) em
• B) i
• C) strong
• D) b

Learn the application and significance of the lower-of-cost-or-market method for inventory valuation.

Comprehend the concept and calculation of net realizable value in inventory valuation.

Recognize the requirements for including goods in inventory for different scenarios (consignments, goods in transit).

Understand the importance and components of inventory control systems, including physical counts and the use of internal documents.

---

Definitions:

Office Supplies

Items used in an office on a regular basis, such as paper, pens, and envelopes, which are consumed in use and need regular replenishment.

Temporary Accounts

Accounts used to record transactions within a specific accounting period, which are then closed and transferred to permanent accounts at the end of the period to prepare the company's financial statements.

Retained Earnings

The portion of net profits not distributed as dividends but retained by the company to reinvest in its core business or to pay debt.

Accounting Period

The time frame covered by the financial statements of a company, typically a fiscal year or quarter, used to calculate earnings and track financial performance.