Match Each Definition to the Correct Term

question 22

Multiple Choice

Match each definition to the correct term
-The Amish are a small, isolated group of people who came from Europe and settled in the United States. There is a set of unusual genetic conditions among them. This type of genetic drift is called ________.

• A)Founder effect
• B)Homo habilis
• C)Latin binomial
• D)Australopithecus africanus
• E)Convergent evolution
• F)Ardipithecus ramidus
• G)Neanderthals
• H)Chimpanzees
• I)Homo erectus
• J)Astragalus

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Definitions:

Perpetual Inventory System

This inventory accounting technique instantly logs the acquisition or sale of inventory by utilizing computerized point-of-sale systems along with enterprise asset management software.

LIFO Inventory

An inventory valuation method (Last In, First Out) where the most recently produced or acquired items are recorded as sold first.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including direct materials and labor costs.

Perpetual Inventory System

An inventory management system where updates to inventory records are made immediately following each transaction, giving a continuous, real-time account of stock levels.