Which of the following cost flow methods would provide the lowest amount of net income in an inflationary environment?
a) FIFO
b) LIFO
c) Weighted average
d) NIFO
Ans: b) LIFO
Business
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Which of the following statements is (are) true concerning benefit payments under long-term care insurance?
I. Expense-incurred policies pay for actual charges up to a specified daily limit. II. Per diem policies pay a specified daily benefit regardless of the charges incurred. A) I only B) II only C) both I and II D) neither I nor II
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The WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) permits developing countries to import generic products from other countries if they don't have the capacity to produce generic drugs
Indicate whether the statement is true or false
Business