A departure from the cost basis of accounting may be necessary when the ____________________ of the inventory is less than its cost to the company.

Fill in the blank(s) with the appropriate word(s).


net realizable value

Business

You might also like to view...

Colgate Total toothpaste is positioned as the brand that addresses all aspects of oral health. Such positioning is very important from a business point of view

How does positioning help in deciding on a marketing strategy? What are the differences between using "attribute or benefit" and "quality and price" as positioning strategy?

Business

Health Food Inc. coordinates the purchase, sale, and delivery of organic products. The stated corporate purpose is to make a profit and to have a material positive impact on society and the environment. Health Food is

A. a nonprofit corporation. B. not a corporation. C. a benefit corporation. D. a private corporation.

Business

The major contributing factor for expatriate failure is

a. the manager’s personal maturity b. the differences in compensation c. the lack of technical competence d. the inability of the expatriates and their families to adjust to the foreign culture

Business

The same four basic financial statements are prepared by both U.S. GAAP and IFRS.

Answer the following statement true (T) or false (F)

Business