Of the three cost-flow assumptions, when prices rise FIFO results in balance sheet figures that are _____, cost of goods sold will _____, and _____ reported net income
a. closest to current cost, be out of date, highest
b. out of date, closest to current cost, highest
c. closest to current cost, be out of date, lowest
d. out of date, closest to current cost, lowest
e. closest to current cost, closest to current cost, highest
A
You might also like to view...
The increased internationalization of business requires __________ to have a basic knowledge of international business.
A. marketing managers B. managers of transnationals C. managers of multinationals D. managers of purely domestic operations E. all managers
The two methods of currency translation are
A. interlinear and historical. B. functional and temporal. C. intermediary and vehicle. D. temporal and current.
All of the activities involved in managing the retailer's physical facilities comprise _____
a. store maintenance b. merchandising c. energy management d. operations management
In Barabin v. AstenJohnson, where Barabin sued for damage suffered from exposure to asbestos, the appeals court held that:
a. the head of a corporation is never required to testify in a deposition b. the head of a corporation is only required to answer written interrogatories, not appear for a deposition c. the head of a corporation may send a qualified corporate officer to testify in his place d. the expert witness for AstenJohnson could not be a company employee e. none of the other choices are correct