What three difficulties does dollar-value LIFO overcome compared to applying simple LIFO?
What will be an ideal response?
1) Simplified record keeping2) LIFO liquidation3) Technological changeProblem 1 is overcome due to the use of current costs and cost indexes. Problems 2 and 3 are overcome due to the use of inventory pools.
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Which of the following is closely associated with the diversification strategy?
a. Entering new markets with little competition b. Increasing overhead production costs c. Decreasing the prices of existing products d. Selling modified products to the same customers
Sweet Plantation, Inc made a written contract with Candy, Inc whereby Sweet Plantation agreed to supply all of Candy's sugar requirements for the next year at $.25 per pound. A dispute arose as to how much sugar Sweet is to supply. The parol evidence rule will bar Sweet's introduction of evidence concerning the intent of the requirements of Candy
a. True b. False Indicate whether the statement is true or false
Joe is the owner of a manufacturing company called ProfitMax. Joe finds out that a union is attempting to organize the employees at ProfitMax. Joe tells you that he will never deal with a union and that he has no plans to pay a higher wage if the union
is elected. Joe has plans to tell his supervisors that they may not encourage union activity. Joe has plans to do surveillance regarding which employees attend union meetings so that he can fire them. He is also going to announce to all employees that they will get a raise if they vote against the union. He asks you what his obligations are if the union gets elected and if his other plans are legal. He also wants to know what he can expect from his supervisors, some of whom he is suspicious of supporting the union. What would you tell him?
The phase-out approach to product deletion exploits any strengths left in the product.
Answer the following statement true (T) or false (F)