Why is the LIFO cost flow assumption an acceptable valuation method for merchandise inventory when it rarely matches the physical movement of the product?
LIFO is an acceptable inventory valuation method because it provides an excellent matching of current selling prices (revenue) with current merchandise costs (expense) on the income statement. This matching of current revenue and costs provides more accurate information in regard to the gross margin.
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One brainstorming technique is that of dividing a sheet of paper into seven columns and writing down words associated with each of the following: ______, processes, phenomena, possessions, products, and programs.
a. postures b. presences c. plots d. people
Under Article 9 of the Uniform Commercial Code, in what order are proceeds from the sale of collateral by the creditor to be distributed?
A. First, the proceeds are used to satisfy the debt. Second, any expenses of repossessing the collateral. Lastly, the debtor is entitled to remaining proceeds. Finally, if any proceeds remain, the debtor is entitled to them. B. First, any expenses of repossessing the collateral are paid. Second, the proceeds are used to satisfy the debt. Third, any other junior liens are paid. Finally, if any proceeds remain, the debtor is entitled to them. C. First, the junior liens are paid. Second, any expenses of repossessing the collateral are paid. Third, the proceeds are used to satisfy the debt. Finally, if any proceeds remain, the debtor is entitled to them. D. First, the proceeds are used to satisfy the debt. Second, junior liens are paid. Third, any expenses of repossessing the collateral are paid. Finally, if any proceeds remain, the debtor is entitled to them.
Answer the following statements true (T) or false (F)
1. The transition of the United States from an agrarian, rural society with self-employed farmers, shopkeepers, blacksmiths, and shoemakers to one where most workers sell their labor for a wage or a salary was largely a smooth and relatively painless process. 2. The first national unions in the U.S. began to develop during the early 1900's. 3. The first unions in the U.S. were focused at the local level, representing a single craft or trade. 4. The National Labor Union was one large union that directly represented workers from many trades, crafts, and industries. 5. The Great Uprising of 1877 was successful in improving labor relations between workers and winning wage increases and reductions in hours of work.
The ______ structure of integrating international activity groups all international activities together in a single organizational unit.
A. global work culture B. international division C. organizational form D. multinational organization