There Are Two Sources of Intuition-Expertise and

question 30

Multiple Choice

There are two sources of intuition-expertise and

• A) holistic hunches
• B) automated responses
• C) learned behaviours
• D) feelings
• E) inherent temperaments

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Definitions:

Gross Profit

The difference between revenue and the cost of goods sold, indicating the financial health and performance of a business.

Freight In

The cost associated with transporting goods from suppliers to the buyer, which is added to the cost of inventory.

Inventory Shrinkage

The loss of products between purchase from supplier and sale to customer, often due to theft, damage, or errors.

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditure to the correct period.