The IRCA applies to foreign companies who employ people in the U.S

If cost is _____ than NRV, no adjusting entry is needed. Inventory already is recorded at cost at the time it was purchased, and this cost is _____ than total NRV at the end of the period.

Fill in the blank(s) with the appropriate word(s).

An agency remains valid until the principal and the agent mutually agree to dissolve it

Indicate whether the statement is true or false.