Which One of the Following Is a Description of a New

question 7

Multiple Choice

Which one of the following is a description of a new social movement?

• A) an environmental social movement that focuses on the interconnection of all the world's people and resources
• B) a local workers' protest against poor wages and working conditions
• C) a civil rights protest movement in a major American city
• D) All of these answers are correct.

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Definitions:

Gross Method

An accounting method for recording purchases of inventory with no immediate recognition of discounts; discounts taken are recorded as income.

Merchandise

Goods that are bought and sold in the course of business, typically in a retail or wholesale setting.

Perpetual Inventory System

This method of accounting instantly documents inventory sales or purchases through computerized point-of-sale systems along with enterprise asset management software.

Gross Method

An accounting practice for recording inventory purchases without deducing available purchase discounts, presenting the gross cost in financial statements.