The requirement that U.S. firms using LIFO for tax reporting purposes must also use LIFO for financial reporting purposes is called the _____ rule
a. financial/tax conformity rule
b. income tax conformity
c. last-in, first-out method
d. LIFO conformity
e. cost-flow conformity
D
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Can VARs be used to analyze the effects of monetary policy?
What will be an ideal response?
Martin Company has a cash ratio of 0.3. This implies that the company ________.
A) has an unnecessarily large amount of cash supply B) is not sending a strong message to investors and creditors that it has the ability to repay its short-term debt C) is not in a position to meet its long-term obligations D) has no liquidity issues
The personal savings rate is calculated as:
a. personal savings divided by personal outlays b. personal savings divided by disposable personal income c. disposable personal income divided by personal outlays d. personal income divided by personal outlays
Very large retail stores that carry not only foods but all goods and services that consumers purchase routinely are called
A. mass-merchandisers. B. supermarkets. C. general stores. D. supercenters. E. department stores.