Which inventory costing method assumes that inventory costs flow out in the opposite order from which the goods were purchased?
A. Specific identification
B. LIFO
C. FIFO
D. Weighted average
Answer: B
You might also like to view...
The dean at Corbin Business College disseminated a new five-year strategic plan to department chairs. This is an example of
A. external communication. B. downward communication. C. corporate communication. D. horizontal communication. E. informal communication.
The written marketing plan must reflect the goals of top management and
A. begin with a situation analysis that identifies the product's strengths. B. emphasize the development of transactional relationships. C. be benchmarked against others in competing industries. D. be approved by all stakeholders of the company. E. align with the company's mission and capabilities.
A formal log-on procedure is the operating system's first line of defense. Explain how this works
Which of the following requires businesses to record depreciation?
A) revenue recognition principle B) matching principle C) cost principle D) going concern principle