Management Decisions in Accounting for Inventory Cost Include All of the Following

question 41

Multiple Choice

Management decisions in accounting for inventory cost include all of the following except:

• A) Costing method.
• B) Inventory system (perpetual or periodic).
• C) Customer demand for inventory.
• D) Use of market values or other estimates.
• E) Items included in inventory and their costs.

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Definitions:

Express Authority

The explicitly given power or permission to act on behalf of another party, particularly in a legal or business context.

Duty Of Loyalty

A duty that states managers must place the corporation’s interests above their own.

Undisclosed Principal

A person, in a transaction conducted by an agent, whose existence and identity are unknown to the third party.

Wholesale Auto Auctions

These are exclusive marketplaces where dealers buy and sell vehicles in bulk, often at lower prices, primarily for resale purposes.