(CMA adapted, Dec 95 #27) Somali Inc is a profitable company with the goal to maximize cash flow. A valid reason for Somali not to adopt the last-in, first-out (LIFO) method of inventory valuation is the
a. prices are rising.
b. prices are falling.
c. company has high administrative costs.
d. reduction effect on inventory.
e. difficulty in segregating goods in the warehouse.
B
You might also like to view...
Waxman Company purchased a patent for $170,000 at the beginning of 2013, and estimated that its expected useful life was 10 years. The patent has a legal life of 17 years. What amount should be recorded as amortization expense for the patent in 2013?
a. $ -0- b. $ 7,000 c. $10,000 d. $17,000
Hold Fast Tattoo wishes to open a tattoo studio on North Sheridan Road in the City of North Chicago and has obtained a prospective lessor at its desired location. In accordance with North Chicago's zoning ordinance, Hold Fast Tattoo applied for a
special use permit to operate a tattoo studio at that location. On June 21, 2007, the Zoning Board of Appeals of North Chicago recommended approval of the permit to its city council. The proposal was discussed at two council meetings, on July 9, 2007, and July 16, 2007, and Hold Fast Tattoo's (plaintiff) request for a special use permit was ultimately denied. The city council informed Hold Fast that its special use permit was denied because it was "not the kind of business" the council wanted in North Chicago. Hold Fast filed suit. What should the court decide and why.
Which of the following statements is true with regard to application blanks?
A. They are becoming virtually useless in the selection process. B. Federal legislation prohibits requesting any information on the blank that may be discriminatory. C. It is illegal to use the blank to compare one applicant's background with another applicant's background. D. The blanks are destroyed once the position is filled.
The organization's leadership should establish guiding principles such as the vision and mission for an organization before developing strategic objectives
Indicate whether the statement is true or false