At the sales presentation for EFTPS (a type of software for making the payment of all federal taxes secure, easy, and fast), it would be most logical for which member of the sales staff to demonstrate how payments can be set up 12 months in advance

When the direct method is used to record inventory at market

a. there is a direct reduction in the selling price of the product that results in a loss being recorded on the income statement prior to the sale. b. a loss is recorded directly in the inventory account by crediting inventory and debiting loss on inventory decline. c. only the portion of the loss attributable to inventory sold during the period is recorded in the financial statements. d. the market value figure for ending inventory is substituted for cost and the loss is buried in cost of goods sold.

Consumers are mistaken in their belief that the auto manufacturers have a policy of providing secret warranties to select customers

Indicate whether the statement is true or false.