Which Activity of Memory Involves Recording New Information in Our

question 448

Multiple Choice

Which activity of memory involves recording new information in our brain?

• A) encoding
• B) processing
• C) storage
• D) retrieval

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Definitions:

FIFO

FIFO, or First-In, First-Out, is an inventory valuation method where goods first bought are the first to be sold.

Replacement Cost

The current cost of replacing an asset with a new one of the same kind and quality.

Inventory Turnover

A metric that measures the number of times a company sells and replaces its stock of goods during a certain period.

Lower of Cost

This accounting principle requires that the inventory or stock should be reported at the lower of its cost or the market value.