Which of the following is not considered an advantage of LIFO when prices are rising?
a. The inventory will be overstated.
b. The more recent costs are matched against current revenues.
c. There will be a deferral of income tax.
d. A company's future reported earnings will not be affected substantially by future price declines.
Answer: a. The inventory will be overstated.
Business
You might also like to view...
Which of the following involves providing the applicant with a picture of what performing the job that the organization is trying to fill would be like?
A. External recruiting B. Internal recruiting C. Job analysis D. Realistic Job Preview (RJP)
Business
Reinforcement advertising aims to stimulate repeat purchase of products and services
Indicate whether the statement is true or false
Business