Technological Conditions in the General Environment Include __________

question 174

Multiple Choice

Technological conditions in the general environment include __________.

• A)Philosophy and objectives of the political party or parties running the government,as well as laws and governmental regulations.
• B)Inflation,income levels,gross domestic product,unemployment,and job outlook.
• C)Norms,customs,and social values regarding human rights;trends in education and related social institutions;and demographic patterns in society.
• D)Development and availability of technology,including scientific advancements.
• E)Nature and conditions of the natural environment,including levels of public concern expressed through environmentalism.

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Definitions:

Inventory costing method

A system or technique used by companies to assign costs to inventory and goods sold; common methods include FIFO, LIFO, and average cost.

Ending inventory

The total value of goods available for sale at the end of an accounting period after all sales transactions have been accounted for.

Current prices

Prices at which goods and services are being sold in the present market, reflecting the current economic conditions.

LIFO

The "last in, first out" method of inventory valuation, where the most recently acquired items are considered sold first, used in periods of inflation to increase cost of goods sold and reduce taxes.