Some states prohibit deficiency judgments on residential property

Why might inventory be reported at sales prices (net realizable value or market price) rather than cost?

a. When there is a controlled market with a quoted price applicable to all quantities and when there are no significant costs of disposal. b. When there are no significant costs of disposal. c. When a non-cancellable contract exists to sell the inventory. d. When there is a controlled market with a quoted price applicable to all quantities.

What are organizations that are in the business of benefiting society and operate like a business called?

(A) Limited partnerships (B) Trade associations (C) Nonprofit organizations (D) Producer cooperatives