In a perfectly competitive industry, the demand curve for the total output of the industry may be downward sloping.

The source document for the data for debiting Work in Process for direct materials is a

A) purchase order
B) purchase requisition
C) materials requisition
D) receiving report

________ requires that both the parties return to the other any consideration already received or pay for any services or materials already rendered.

A) Termination by waiver
B) Novation
C) Mutual rescission
D) General release

Ordering a fixed number of items every time an inventory level falls to a predetermined point is called the ___.

A) inventory control number
B) quality control paradox
C) economic order quantity
D) breakeven quantity
E) fixed quantity inventory

Internal and external attributions are the two causes people look for to explain behavior of others. This is called attribution theory.