Firing a Member from a Team Is the Only Way

question 16

True/False

Firing a member from a team is the only way to impose sanctions on a member who has violated the norms of the team.

---

Definitions:

Merchandise Inventory

An asset and perpetual inventory system account that records purchases of merchandise. Discounts and returns are recorded in this account for the buyer.

Vouchers Payable

Represents liabilities or amounts owed by a company to its suppliers or vendors, documented through vouchers.

Periodic Method

A method of inventory accounting where updates to inventory levels and cost of goods sold are made at the end of an accounting period.

Gross Method

An accounting method where purchases are recorded at their full purchase price without deducting any cash discounts.