The Priority Effect Occurs When

question 10

Multiple Choice

The priority effect occurs when

• A) the first species to arrive at a site have a greater probability of becoming established than subsequent species.
• B) the first species to arrive at a site have a lower probability of becoming established than subsequent species.
• C) the arrival of one species at a site affects the subsequent colonization of other species.
• D) the arrival of one species at a site improves conditions so there is an increased probability of subsequent species becoming established.

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Definitions:

Estimated Ending Inventory

An approximation of the value of inventory a company has on hand at the end of an accounting period.

Gross Profit Rate

A financial metric that represents the proportion of money left over from revenues after accounting for the cost of goods sold.

Retail Inventory Method

An accounting technique for estimating inventory value by using a proportion between the retail price and cost of goods.

Cost Ratio

A measure that compares a company's operating expenses to its revenue, indicating how efficiently it is managed by showing the percentage of sales that goes towards covering costs.