Which of the following statements is not correct?
a. The LIFO method is best suited for the income statement because it matches revenues and cost of goods sold.
b. The IRS requires companies to use the FIFO method for tax purposes.
c. Changes in inventory costing methods can cause sizable fluctuations in income.
d. FIFO is well suited for the balance sheet because the ending inventory is closest to current values.
b
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Nina sent a letter to Adrian that stated she wanted to hire him to decorate the interiors of her house. She wrote that he must accept the offer by mail. Adrian received the letter and telephoned Nina to say that he accepted the offer. Which of the following statements is true in this case?
A. There is a valid acceptance and a binding contract because the telephone call was a faster means of acceptance than the mail. B. There is no acceptance and no contract in this situation as it is clearly mentioned by the offeror that the acceptance must be by mail. C. There is a valid acceptance and a binding contract because the telephone call was a reasonable means of acceptance. D. There is a valid acceptance and a binding contract because the telephone call was an authorized means of acceptance.
Outlet centers are shopping centers that contain mostly manufacturers' and retailers' outlet stores.
Answer the following statement true (T) or false (F)
____________________ refers to the likelihood that a company will be able to pay its current obligations as they come due
Fill in the blank(s) with correct word
During ________ interviews, usually conducted by phone, companies save time and money by eliminating less-qualified candidates before scheduling face-to-face interviews
Fill in the blank(s) with correct word